An intraday options indicator that calculates percentage-based support and resistance levels from daily high and low prices, revealing potential price reversal zones.
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The indicator calculates specific percentage levels from the day's highest and lowest prices, creating dynamic support and resistance zones. It derives these levels using predefined percentage calculations like 12.5%, 25%, 50%, 100%, 200%, and higher, which are extracted from WD Gann's trading methodology.
Each percentage level acts as a potential price reversal or consolidation point, with 50% being the most significant resistance level. Traders can use these percentage-derived levels to anticipate potential price movements and identify strategic entry or exit points during intraday trading.
Why it may be useful
These percentage levels provide traders with a systematic approach to identifying potential price reversal zones based on historical price action. By offering predefined support and resistance levels, the indicator helps traders make more informed decisions about market entry and exit points.
The methodology allows traders to visualize potential price behavior and develop more precise trading strategies. It transforms abstract price movements into quantifiable levels, giving traders a structured framework for understanding market dynamics and potential trend reversals.
When to explore it
This indicator is most effective when used on intraday options charts, specifically for CALL and PUT options trading. It works best in volatile market conditions where price movements are more pronounced and predictable through percentage-based analysis.
Traders should use this indicator alongside other technical analysis tools to confirm signals and validate potential trade opportunities. It is particularly useful for traders seeking a structured approach to identifying dynamic support and resistance levels during short-term trading sessions.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
