What is this indicator?
Calculates probable support and resistance levels for the current day or week based on the previous period's high, low, and close. It's widely used in day trading and scalping to identify probable price-reaction zones.
How to read the chart
Price approaching these levels sets up probable reactions (support, resistance, or a breakout), and traders usually watch how price behaves in exactly these zones.
Practical tip
These levels aren't definitive — they're just probable reaction zones; getting confirmation from price action or volume before deciding is recommended.