The basis idea of Trailing Resistance Idea is...
Everytime the stock price goes/closes lower than the day before,
we draw a line either at the opening price of the bearish candle or
at the closing price of the bearish candle...
Once we have drawn the line,
whenever the stock price crosses up the line,
we can consider it a valid reversal/a buy signal..
BUT, beware of the bull trap.
"Trailing Resistance Indicator helps us to plot/map these resistance lines
automatically everytime the stock price goes down."
Everytime the stock price goes/closes lower than the day before,
we draw a line either at the opening price of the bearish candle or
at the closing price of the bearish candle...
Once we have drawn the line,
whenever the stock price crosses up the line,
we can consider it a valid reversal/a buy signal..
BUT, beware of the bull trap.
"Trailing Resistance Indicator helps us to plot/map these resistance lines
automatically everytime the stock price goes down."