Support and Resistance (Swing Suite)
The Support and Resistance feature in the TRN Swing Suite provides powerful tools for identifying and trading key support and resistance levels. These levels are crucial for understanding market structure and making informed trading decisions.
Swing Support and Resistance Levels​
Swing support and resistance levels are horizontal lines drawn from swing highs and lows. These lines represent key price barriers where the market tends to react. Historical swing highs and lows often contain significant liquidity. For instance, at a swing high:
- Traders may place stop-loss orders just above it.
- Breakout traders might enter long positions once price surpasses it.
- Turtle soup (reverse) traders could initiate short positions above it.
Multi-Timeframe Trend Analysis​
The TRN Swing Suite can display current swing trends of various sizes—medium and larger—either at the top or bottom of the chart. By offering a clear, multi-level perspective of the prevailing trend, this feature helps traders quickly assess market structure and identify potential trading opportunities.
Combine support/resistance levels with Order Blocks for enhanced trade entries and exits.