MZpack 3.11.0 for NinjaTrader 8
– Added support and resistance zones. See User Guide for details.
– Fixed: Cumulative delta in Statistic grid doesn’t update properly on live data.
Auto Support and Resistance Zones
S/R zones are based on levels of imbalances or absorptions. The more volume traded and more there are consecutive levels in a zone the stronger this particular zone is.
Levels of imbalances on ask side will create a support zone, whereas levels of imbalances on bid side will create a zone of resistance. In case of absorption, all are vice versa: levels of absorptions on ask side will create resistance zone, whereas levels of absorptions on bid side will create a zone of support.