Support and resistance
Horizontal levels at the most recent swing highs and lows.
Formula
Resistance: a high with 10 lower highs on each side Support: a low with 10 higher lows on each side
How to read it
A level that has turned price more than once is stronger.
How to use it
Shows where price has turned before — candidate entries, stops and targets.
Limitations
Each level is confirmed 10 bars after its pivot, then drawn from it.
In Kereon
Charts · Superchart. Strength 10, the three most recent of each.
Also called: support, resistance, levels, swing levels.