OPEN-SOURCE SCRIPT
Support and Resistance Levels TP/SL
Mis à jour
Support and resistance levels are critical concepts in trading, often used to set Take Profit (TP) and Stop Loss (SL) levels. Here's a guide to effectively determine these levels:
1. Identifying Support and Resistance Levels
- Support Level: A price level where demand is strong enough to prevent the price from falling further. Think of it as a floor.
- Resistance Level: A price level where selling pressure is strong enough to prevent the price from rising further. Think of it as a ceiling.
Methods to Identify Levels:
- Horizontal Lines: Use historical price data to find levels where prices frequently reversed.
- **Trendlines**: Draw diagonal lines connecting higher lows (support) or lower highs (resistance).
- Fibonacci Retracement: Calculate levels based on key Fibonacci ratios (e.g., 23.6%, 38.2%, 61.8%).
- Moving Averages: Identify dynamic support and resistance based on moving average levels.
- Volume Profile: Spot areas of high trading activity, which often act as support or resistance.
---
2. Setting Take Profit (TP) Levels
- Conservative Approach: Place the TP level slightly below a resistance level to ensure execution.
- Aggressive Approach: Target higher levels, considering momentum and trend strength.
Example:
- Resistance at $50.
- Set TP at $49.80 to account for slippage or premature reversals.
3. Setting Stop Loss (SL) Levels
- Below Support: For long trades, set the SL slightly below the identified support level.
- Above Resistance: For short trades, set the SL slightly above the resistance.
Example:
- Support at $45.
- Set SL at $44.80 to allow for minor price fluctuations.
4. Risk-Reward Ratio
- Aim for at least a 1:2 risk-reward ratio (e.g., risk $1 to gain $2).
- Calculate TP and SL levels accordingly to maintain this balance.
5. Adjusting for Market Conditions
- Volatile Markets: Widen TP and SL levels to account for larger price swings.
- Stable Markets: Use tighter levels for precise risk management.
6. Automating TP/SL
- Use trading platforms to automate TP/SL placements, ensuring discipline and emotional control.
Would you like help applying this to a specific scenario or chart?
1. Identifying Support and Resistance Levels
- Support Level: A price level where demand is strong enough to prevent the price from falling further. Think of it as a floor.
- Resistance Level: A price level where selling pressure is strong enough to prevent the price from rising further. Think of it as a ceiling.
Methods to Identify Levels:
- Horizontal Lines: Use historical price data to find levels where prices frequently reversed.
- **Trendlines**: Draw diagonal lines connecting higher lows (support) or lower highs (resistance).
- Fibonacci Retracement: Calculate levels based on key Fibonacci ratios (e.g., 23.6%, 38.2%, 61.8%).
- Moving Averages: Identify dynamic support and resistance based on moving average levels.
- Volume Profile: Spot areas of high trading activity, which often act as support or resistance.
---
2. Setting Take Profit (TP) Levels
- Conservative Approach: Place the TP level slightly below a resistance level to ensure execution.
- Aggressive Approach: Target higher levels, considering momentum and trend strength.
Example:
- Resistance at $50.
- Set TP at $49.80 to account for slippage or premature reversals.
3. Setting Stop Loss (SL) Levels
- Below Support: For long trades, set the SL slightly below the identified support level.
- Above Resistance: For short trades, set the SL slightly above the resistance.
Example:
- Support at $45.
- Set SL at $44.80 to allow for minor price fluctuations.
4. Risk-Reward Ratio
- Aim for at least a 1:2 risk-reward ratio (e.g., risk $1 to gain $2).
- Calculate TP and SL levels accordingly to maintain this balance.
5. Adjusting for Market Conditions
- Volatile Markets: Widen TP and SL levels to account for larger price swings.
- Stable Markets: Use tighter levels for precise risk management.
6. Automating TP/SL
- Use trading platforms to automate TP/SL placements, ensuring discipline and emotional control.
Would you like help applying this to a specific scenario or chart?
Notes de version
Support and resistance levels are critical concepts in trading, often used to set Take Profit (TP) and Stop Loss (SL) levels. Here's a guide to effectively determine these levels:---
1. Identifying Support and Resistance Levels
- Support Level: A price level where demand is strong enough to prevent the price from falling further. Think of it as a floor.
- Resistance Level: A price level where selling pressure is strong enough to prevent the price from rising further. Think of it as a ceiling.
Methods to Identify Levels:
- Horizontal Lines: Use historical price data to find levels where prices frequently reversed.
- Trendlines: Draw diagonal lines connecting higher lows (support) or lower highs (resistance).
- Fibonacci Retracement: Calculate levels based on key Fibonacci ratios (e.g., 23.6%, 38.2%, 61.8%).
- Moving Averages: Identify dynamic support and resistance based on moving average levels.
- Volume Profile: Spot areas of high trading activity, which often act as support or resistance.
---
2. Setting Take Profit (TP) Levels
- Conservative Approach: Place the TP level slightly below a resistance level to ensure execution.
- Aggressive Approach: Target higher levels, considering momentum and trend strength.
Example:
- Resistance at $50.
- Set TP at $49.80 to account for slippage or premature reversals.
---
3. Setting Stop Loss (SL) Levels
- Below Support: For long trades, set the SL slightly below the identified support level.
- Above Resistance: For short trades, set the SL slightly above the resistance.
Example:
- Support at $45.
- Set SL at $44.80 to allow for minor price fluctuations.
---
4. Risk-Reward Ratio
- Aim for at least a 1:2 risk-reward ratio (e.g., risk $1 to gain $2).
- Calculate TP and SL levels accordingly to maintain this balance.
---
5. Adjusting for Market Conditions
- Volatile Markets: Widen TP and SL levels to account for larger price swings.
- Stable Markets: Use tighter levels for precise risk management.
---
6. Automating TP/SL
- Use trading platforms to automate TP/SL placements, ensuring discipline and emotional control.
Would you like help applying this to a specific scenario or chart?
Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
Vous voulez utiliser ce script sur un graphique ?
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.