Hey there, fellow traders! If you’re looking for a solid trading strategy, let’s dive into the Daily Open Support and Resistance (DoSR) technique. This method focuses on the support and resistance levels established right at the daily opening, giving you a strong foundation for your trades.
Input Parameters
- Resistance Color: This sets the color for your resistance levels. Default is Red.
- Support Color: This sets the color for your support levels. Default is Blue.
- Today's Open Color: This sets the color for today's opening price. Default is Yellow.
extern color ResistanceColor = Red;
extern color SupportColor = Blue;
extern color TodayOpenColor = Yellow;
Daily Open Support and Resistance (DoSR)
With the DoSR strategy, you can identify key levels where price action is likely to react, helping you make more informed trading decisions. Whether you’re a seasoned trader or just starting, this approach is definitely worth adding to your toolkit!
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