This indicator plots support and resistance levels based on fibonnaci levels for the entire week.
1. Understanding The Levels: Intermediate Zone is two pink coloured lines. Resistance is two blue coloured lines above intermdiate zone. Support is two blue coloured lines below intermediate zone. Buy target and Sell Target 1 & 2 are yellow and red coloured lines on both sides.
-Price is strong when it is above the Intermediate Zone. -Price is weak when it is below the Intermediate Zone. -Price remains range bound when it stays inside the Intermediate Zone. -Price is very strong when it's above Weeky Resistance Zone -Price is very weak when it's below Weekly Support Zone -Buy Target & Sell Target are the zones where you should take or trail your profit.
2.For Buying/Selling: -Buy only when 30min close above Resistance Zone . SL below Resistance Zone . -If 30min close is in huge range, you can buy/sell after pullback to Resistance/ Support Zone . -Also you can buy/sell if 30min close is above/below Buy/Sell target zone if you missed the rally. -Sell only when the 30min close below Support Zone . SL above Support Zone .