Support and Resistance Filter Settings

The Support and Resistance Filter is a powerful tool used in trading to identify key price levels where the market tends to reverse or stall. This filter utilizes trendlines and pivot points from multiple timeframes (TFs) to give users insights into where potential support or resistance levels lie. It helps traders make more informed decisions by highlighting important price levels that could influence market behavior.

Key Settings in the Support and Resistance Filter:

1. Trendlines

   • Trendlines help visualize support and resistance levels on your chart. They are drawn by connecting significant highs or lows.

   • This setting will allow the user to configure trendlines based on various timeframes. These trendlines act as markers for key price levels where support or resistance might be found.

2. Number of Current TF Pivots

   • Definition: This setting determines how many pivots in the current timeframe (TF) you want the filter to consider when drawing support and resistance levels. A pivot occurs when the price shifts direction and forms a local high or low.

   • How to Use:

     • The higher the number of pivots, the more data points the filter will use to identify potential support and resistance levels on the current timeframe.

     • For example, if you select "5" for this setting, the filter will consider the last 5 pivot points on your chart to detect potential support or resistance levels.

3. Number of Higher TF Pivots

   • Definition: This setting refers to how many pivots from higher timeframes should be considered in identifying potential support and resistance levels.

   • How to Use:

     • Higher timeframes provide a broader market view, and their pivots tend to have more significance than those on smaller timeframes.

     • If you select "3" for this setting, the filter will consider the last 3 pivots from higher timeframes (for example, the 4-hour, daily, or weekly timeframes, depending on your chart settings) when determining the support or resistance levels.

Step-by-Step Instructions:

1. Access Support and Resistance Settings:

   • Open your XetaAI Indicator Toolbox on TradingView.

   • Select the Support and Resistance Filter from the list of available filters.

2. Adjust Trendline Settings:

   • Choose how many trendlines you want to display. Typically, this could range from 1 to 3 trendlines depending on how many support/resistance levels you want the filter to track.

   • Set the timeframes you want the trendlines to be based on (e.g., 1-minute, 5-minute, 1-hour, daily).

3. Configure Pivots:

   • For Current Timeframe: Select the number of pivots you want to use on the current timeframe. A typical setting might be 3–5 pivots, depending on the level of granularity you desire.

   • For Higher Timeframes: Choose the number of pivots to consider from higher timeframes. You might start with 2–3 pivots to gather a broader view of key levels.

4. Activate and View:

   • After selecting the number of pivots and trendlines, activate the filter. You should now see visual markers for support and resistance levels on your chart based on the current and higher timeframes.

   • The trendlines and pivot points will be drawn on your chart, indicating where the price may face support or resistance.

5. Trading Strategy:

   • Use the identified support and resistance levels in conjunction with other indicators or filters (such as Super Trend or Moving Averages) to validate potential entry or exit points.

   • Pay attention to where price action meets these levels as it could be a sign of a potential reversal, breakout, or continuation.

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Summary of Settings:

Setting	Description
Trendlines	Visual representation of support and resistance levels based on pivot points.
Number of Current TF Pivots	How many pivots from the current timeframe to consider for support and resistance.
Number of Higher TF Pivots	How many pivots from higher timeframes (e.g., 1-hour, 4-hour) to consider for support and resistance.

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Example Use Case:

• Suppose you’re trading on a 1-hour chart, and you set the filter to 3 pivots on the current timeframe and 2 pivots on a higher timeframe (e.g., 4-hour).

• The filter will then identify and display support and resistance levels based on the last 3 pivots on the 1-hour chart and the last 2 pivots on the 4-hour chart.

• You can then use this information to look for potential price reversal or breakout points where the price may reverse or continue its trend.

This method allows you to identify key levels that are likely to impact price movements, improving your chances of making profitable trades.