Hambones Key Levels is a dynamic support and resistance indicator designed to help traders automatically identify critical price levels on any ticker and timeframe. Whether you're trading Crypto, Forex, Stocks, or Futures, this tool can be tailored to potentially meet your needs, providing valuable insights for both short-term and long-term trading strategies. As part of the Hambone Suite of Indicators, Hambones Key Levels is included with every purchase.

Short Term and Long Term Key Levels

Hambones Key Levels offers two main settings to help traders fine-tune the support and resistance levels based on their trading style:

• Short Term Key Levels: Ideal for scalpers or short-term traders, these lines highlight potential price zones that are more reactive to recent market activity. You can turn these lines on or off depending on your preference.
• Long Term Key Levels: Designed for larger, more significant moves, the long-term key levels help identify price zones that could be critical over extended periods. These lines are more suited for those looking for multiple potential stronger support and resistance zones.

Customizable Key Level Generation

Hambones Key Levels allows users to select the number of lines generated, ranging from a few significant levels to up to 60 lines for comprehensive coverage. You can customize your settings based on the timeframe and style you're trading.

For instance, some traders may prefer generating only long-term key levels for the day, while others might utilize both short and long-term levels for a more granular view of potential support and resistance areas.

Recommended Usage

This indicator was originally designed to be used as part of my personal pre-market preparation. I typically set it to 16 or 20 long-term lines, prepare my chart for the day by adding red or green horizontal lines at the levels pre-generated by the indicator, and then turn the indicator off to reduce noise during trading hours.

After market close, Hambones Key Levels can be turned back on to verify or adjust lines for the next trading session, ensuring easy potential support and resistance levels to help be prepared for the next day.

Caution for Fast Market Moves

It's important to note that Hambones Key Levels can sometimes lag during sudden market movements, such as earnings announcements or significant economic events, especially if these occur outside of normal trading hours. The indicator may need time to catch up and re-calculate critical levels after such moves.

Why Choose Hambones Key Levels?

• Automatic Key Levels: Automatically plots critical support and resistance zones, saving you time during market preparation.
• Short and Long Term Flexibility: Use short-term levels for scalping or long-term levels for swing trading—both can be toggled on or off to suit your preferences.
• Customizable Line Generation: Set the number of key levels generated to fit your trading style, providing as much or as little detail as you need.
• Seamless Integration with Hambone Suite: Use Hambones Key Levels alongside other Hambone tools for a complete market analysis package.

Hambones Key Levels makes identifying key price levels effortless, helping traders make more informed decisions. Whether you're looking for support and resistance zones to scalp intraday or critical levels to hold through longer moves, this tool has you covered.

Don't forget your Key Levels!