Trading Fractals, TradeStation Add On,
- Author Mark Spears
- Published August 24, 2010
- Word count 383
Fractal Channel Indicator Shows "Real Time" Support and Resistance
Our Fractal Channel Indicator visually shows timely, real-time Support and Resistance levels on any chart and any time frame. Perfect for seeing entry and exit points on your trading charts.
In trading, price action is the ultimate truth of what matters. Traders all know price action and volume creates support and resistance. Support and Resistance is simple to see in hindsight, but most traders struggle with timely, real time identification of support and resistance.
Watch the free webinar-video named "Support and Resistance is Critical to Profitable Trading" at this link
http://www.customizedtrading.com/TradeStation_Add_Ons/Fractal_Channel_Indicators
The real secret "edge" in trading is made up of three things (1) Price Action, (2) Volume Action, and (3) Support and Resistance. Price Action is the prime important fact and Volume is second to price action. Price and Volume combined creates Support and Resistance on every trading chart. These three all important aspects of trading (1) Price Action, (2) Time Segmented Volume Action, and (3) Support and Resistance are the real trading "edge".
For #1 which is Price Action, I use the MTF_Trend Indicator to show "real time" Price Action on 8 time frames at once.
For #2 which is Volume Action, I use the Time Segmented Volume Normalized to see behind the "Wizard of Oz's Trading Curtain" to understand real trading volume action.
For #3 which is Support and Resistance, I use the Fractal Channel Indicator and MTF Fractal Channel Indicator.
The Fractal Channel Indicator displays this "real time" identification of Price Action and Volume Action that traders call Support & Resistance.
Traders commonly use lots of "potential" Support and Resistance lines like floor trader pivots, moving average lines, etc, etc. all of which show "potential" support and resistance areas and only Price Action and Volume Action will show if these "potential" lines prove to be support or resistance. Whereas the Fractal Channel Indicator is real time support and resistance without all the "maybe" nonsense.
Trading tends to have an overwhelming amount of information so why add to that with a bunch of MAYBE support and resistance indicators like floor trader pivots, moving averages, etc, etc. Simplify your trading by only dealing with the "real time" Fractal Channel support and resistance indicator.
http://www.customizedtrading.com/TradeStation_Add_Ons/Fractal_Channel_Indicators
Mark Spears, I am a full time Trader and Trading Software Developer. I am sharing the powerful concept of Fractals as it relates to successful trading in a Free Trading Video at
http://www.customizedtrading.com/TradeStation_Add_Ons/Fractal_Channel_Indicators
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