Market Cipher SR
Support and Resistance Indicators (Intraday Scalping)
Market Cipher SR is a day trading strategy built for the hourly timeframe and below which heavily incorporates horizontal supports and resistances as well as Volume Weighted Average Price, otherwise known as VWAP. VWAP is a reliable day trader’s indicator that will help you to know your environment (whether it is a long day or a short day) and provide you regular opportunities to enter the market in either direction. This is due to the daily reset mechanic which not only accounts for intraday volatility but also gives the other side a chance to “take the reins” so to speak. The Daily High/Low is another part of the package that resets each day alongside VWAP which provides you three of the most important psychological levels for a day trader: the daily high, the daily median, and the daily low. The Cipher Support (yellow) and Cipher Resistance (purple) indicators interpret the candlestick data to isolate additional key levels in the market, plotting them as dots on the interactive chart. Altogether, this package will have you slicing and dicing the small timeframes and abusing those positive risk scenarios like never before!
- Great for daytrading strategies (scalping)
- Heavy emphasis on intraday indicators
- Support & resistance plots
- Best charting tool for find a fair price and isolating key levels
- Recommended candles: standard candlesticks