Malaysia SNR Levels and Storyline
Category: Indicator Version: 1.00
In the context of trading, Malaysia SNR (Support and Resistance) refers to the technical analysis of support and resistance levels in financial markets, particularly for stocks, indices, or other assets traded.
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In the context of trading, Malaysia SNR (Support and Resistance) refers to the technical analysis of support and resistance levels in financial markets, particularly for stocks, indices, or other assets traded.
This is single timeframe version. Multiple timeframe version is avaiable here.
There are three type of Malaysia SNR level Classic , GAP and Flipped
1. Classic
2. GAP
A gap happens when the price of an asset opens significantly higher or lower than the previous closing price, without trading at the prices in between. This often occurs due to major news, earnings announcements, or significant market events.
3. Flipped
Flipped support and resistance refers to the concept where a support level becomes a resistance level after being broken, or vice versa. This is a common phenomenon in technical analysis and is also known as role reversal.
Example: If a stock listed on Bursa Malaysia had a support level at RM 5.00 but later breaks below it and falls to RM 4.50, RM 5.00 could now act as resistance. If the stock tries to rise back up, RM 5.00 may act as a barrier, where sellers push the price back down.
This indicator support all 3 type of Malaysia SNR lever
The indicator also provides features such as:
+ Extend active support and resistance levels to current time
+ Only display active support and resistance levels
+ Display text notification of the type and specific price of the support and resistance level
+ Custom style levels
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