CSC-HARSI UPdate: Bull Rejection / Bear Rejection
What's new in this indicator
Support and resistance levels have been re-coded to give you a cleaner visualization.
as always when you see a support indication you set the support level at the close of the candle. if they cancel this red you place it at the bottom.
If the candle is green you place it at the top.
You always place the S/R level at the close of the candle.
Two other indications added to the script are called, Bull Rejection and Bear Rejection.
--Bull rejection shows up when there's a bullish rally and then there's enough resistance to stop that upward move.
--Bear rejection is when there's a bearish move and there is enough resistance to stop that downward move.
If you get a resistance indication followed by a bullish rejection indication you should exit your trade. Because it's showing you resistance at that level and enough pushing back down.
If you get a support indication followed by a bearish rejection you should exit that short trade because it's showing you there is support at that level and enough force pushing to the upside.
Support and resistance levels have been re-coded to give you a cleaner visualization.
as always when you see a support indication you set the support level at the close of the candle. if they cancel this red you place it at the bottom.
If the candle is green you place it at the top.
You always place the S/R level at the close of the candle.
Two other indications added to the script are called, Bull Rejection and Bear Rejection.
--Bull rejection shows up when there's a bullish rally and then there's enough resistance to stop that upward move.
--Bear rejection is when there's a bearish move and there is enough resistance to stop that downward move.
If you get a resistance indication followed by a bullish rejection indication you should exit your trade. Because it's showing you resistance at that level and enough pushing back down.
If you get a support indication followed by a bearish rejection you should exit that short trade because it's showing you there is support at that level and enough force pushing to the upside.
