HAPISPRMONTHLY

 

Support, Pivot & Resistance

HAPISPRMONTHLY

Purpose: Defines key monthly support, pivot, and resistance levels to identify long-term directional bias and breakout zones in stock index futures trading.

Description:

  • Developed by Fari Hamzei, HAPISPRMONTHLY plots monthly SPR levels using day session data, rooted in CME and CBOE floor trading methodologies.
  • Green line represents support, yellow line marks the pivot (neutral zone), and red line indicates resistance, guiding traders on potential breakouts or reversals.
  • Recommended for hourly or higher timeframes (e.g., 120-minute charts) to align with monthly periods, offering a strategic view of price targets.
  • Example: A break above the pivot at 5745 signals a bullish continuation toward resistance at 5945 or higher.

NinjaTrader Use:

  • Displayed as horizontal lines on a NinjaTrader chart—green for support, yellow for pivot, and red for resistance.
  • Bar interval should be a fraction of the period (e.g., 120-minute bars for monthly SPR).
  • Integrates with RadarScreen to scan for price approaching or breaking SPR levels across instruments.
  • No user inputs required; automatically calculated using day session data.

Practical Example:

  • In our chart example for ES futures, HAPISPRMONTHLY shows the prior month’s pivot at 5745 being challenged.
  • Price will need to break above 5745, confirming bullish continuation.
  • Note the strong reversal on the last day of April, EOM markup. 
  • In the new month, we have support at 5057.75, and aggressive support at 5415.5.
  • Resistance comes in at 5999.
  • We also note from the prior month, we are above support at 5424.75, and challenging the previous month’s neutral pivot at 5745 which needs to break for continuation long.
  • 5945 is also a resistance that needs to break for the 5999 objective for the long side.

 

Watch the Video Tutorial