Purpose: Identifies key levels within support and resistance zones, visually illustrates areas of supply and demand for an asset, whilst offering visual trading opportunities.

How to Apply: Choose “Support Shield [Market Spotter]” through the “Invite-only scripts” on TradingView.

Characteristics: Support Shield can be employed in its default configuration, offering a distinctive feature of measuring depth of support/resistance levels. Users have the option to customize the number of bars defining a support/resistance level, activate or deactivate broken support/resistance levels, and fine-tune the visual representation of support (blue rectangles) and resistance (red rectangles).

Alerts: TradingView alerts are notifications that keep traders informed about specific market conditions or price movements in real-time. Users can set them up based on parameters like price levels or technical indicators. These alerts help traders stay updated and make timely decisions to optimize their trading strategies. You can learn how to set alerts with our indicators by viewing this tutorial.