This indicator is a formula that includes 4 different zones which are different sizes based on the ticker you decide to use. It was optimized for SPY and other market ETFs but works well for all stocks on the market. The formula puts a zone at the previous day's high and low, and the previous 5 day's high and low. These zones are meant to be used as support and resistance and can even overlap, creating a 'master zone'. This is different than other zone indicators because the formula for these zones is something I created myself and have been unable to find on here. I have had the most success using a 1-15 minute chart and using my zones for reversal areas. I often look for other indications of reversal as well that line up with the area of the zones. It can also be used on the break and retest of these zones. I have found that when a stock breaks one of these zones it will often retest and continue that trend.
Note di rilascio
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Version 2.0 allows for the zones to be used regardless of extended hours or regular hours. We also added a label for each zone to help you identify them.