Similar to the Candle Drop settings, this particular setting is used for position opening protection. With this one, bot will not open BUY/SELL when it hits resistance line.
Untick DisableSupportResistanceCheck to enable.
Set SRNoOfPastCandles to tell bot how many past candles it wants to check for support/resistance line.
Set SRPercentage to determine the minimum candle length to be included as a worthy support/resistance candle.
Set SRRange to determine how much further from support/resistance candle should bot be prohibited from opening a position.
Set SRPeriod to determine which chart period should bot be looking for support/resistance data.
SRTotalCandles is not used at the moment, therefore please ignore.
For example, say, you want to determine support/resistant line based on the past 100 candles on M5 chart whereby bot should not be allowed to open BUY/SELL when price is within 0.05% of the support/resistant line. And a candle is regarded as support/resistant when it’s at least 0.02% in length. The settings are as follows:
- SRNoOfPastCandles = 100
- SRPercentage = 0.02
- SRPeriod = M5
- SRRange = 0.05
