Description

The function "PL_AXIS-60" draws important horizontal price lines, based on the 1h-period in the charts.
The lines can be interpreted as folllows:
- supply and demand zones
- important support and resistance lines/zones
- price areas where large traders (professionals, commercials, institutions) are buying or selling but retail traders are selling or buying (wholsale price vs. retail price).
In general, the small traders (retail traders, private traders) are wrong.
Details
PL_AXIS-60
The function "PL_AXIS-60" draws important horizontal price lines, based on the 1h-period in the charts.
The lines can be interpreted as follows:
- supply and deman zones
- important support and resistance lines/zones
- price areas where large traders (professionals, commercials, institutions) are buying or selling but retail traders are selling or buying (wholsale price vs. retail price).
In general the small traders (retail traders, private traders) are wrong.
Usage
The price lines drawn by the function "PL_AXIS-60" can be used as an important element in trading, espacially for:
- entries
- exits
- targets
- stops
- for swing- or positiontrading
- interpretation of price action, chart patterns, etc.
- for daytrading in general
special Features
- when changing the instrument in the chart, the lines are automatically adapted
- the lines are automatically activated or deactivated in higher timeframes
- with one keystroke you can show or hide the lines
Data Maintenance
The data is manually maintained by us and accessed by the strategy/indicator.
The manual maintainance is burdensome but this ensures the high relevance ot the lines and thus the benefits for trading.
Availability
The function "PL_AXIS-60" is an essential part of the TT4Y_fxLevelLines, that are offered as a subscription (based on tools and dataservice).
Images
An example:
- EURUSD 15 min
Gallery
More Examples:
- different instruments and different chart settings
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https://tradingtools4you.com/en/menue-items-public/189-function-pl-axis-60.html#sigProGalleria5745ca9736
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