In this example the 1 hour is above and 15 min below.
On the 1 hour chart the RSI support and resistance plotting tool is activated. The numeric settings are out of the box. The only change here is the color of the S/R lies and candle illumination.
Once the indicator is activated i chose support and resistance levels that were closer to being in play and superimposed horizontal rays on the selected areas. You would leave those in place and the drop down to your smaller time frame where you will now have kep support or resistance price level marked. Now you can analyze the volume activity off of these levels based on the higher time frame.
Useful for volume analysis/supply and demand methods. (VSA, Wyckoff, Faders).
The Lazy bear S/R suite contains different variations based on various oscillators and volume. Basically it paints overbought and oversold regions directly on your chart. I cant find any formal instruction on this suite and have been trying to make sense of it on my own. Please add to this if you are more schooled in this are and if you have any questions please ask.
Good Luck!
“Patience is key to success not speed. Time is a cunning speculators best friend if he uses it right”
Jesse Livermore
Sources of education: Tom Williams Volume spread analysis VSA/ Master the Markets Richard Wyckoff Pete Faders VSA* Read the ticker dot com Dee Nixon BTC trading challenge price action/volume techniques
Thanks for the info. Look forward to checking this out after work. Making my way through master the markets now. Switching back and forth between that and Wyckoff’s “How I Trade and Invest in Stocks and Bonds.” Also cool that u give bitcoin trading challenge a shoutout, recently stumbled onto it and there’s some good info on his channel. GL
dee718
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@JViLLe, BTC trading challenge was probably the very first time where i heard wyckff. He has a 4 part series about it.
No problem regarding the info. Any questions PM me.
dee718
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oh i forgot to add..
once you plot your levels you can de-activate the plotting tool to aid in keeping the chart as clean as possible.