S-Trader Pivot Support and Resistance : Introduction

Under Metastock's Expert Advisor, there is an interesting trading system which caught my attention. The trading system is known as "Profitunity - Bill Williams".

An example chart with Profitunity - Bill Williams trading system.

Notice those arrows on the chart which indicates the Fractals.

For more details on Fractals, click on the link below.
A Trader's Guide to Using Fractals

A quick glance on the fractal points, one could identify the tops and bottoms of the price movements. However, using the original Fractals presentation on metastock could make the task of analysis challenging for some users. 

To make it more presentable, I have developed a custom indicators called "S-Trader Pivot Support" and "S-Trader Pivot Resistance".

An example chart with S-Trader Pivot Support and Resistance.

Basically, the S-Trader Pivot Support and Resistance indicators connect all the top and bottom Fractals accordingly forming sort of price movement channels.

With it, we could use it to identify price break out.


Chart Source :
1) Metastock