HAPISPRWEEKLY

Support, Pivot & Resistance

HAPISPRWEEKLY

Purpose: Defines key weekly support, pivot, and resistance levels to identify potential breakout or breakdown zones in stock index futures trading.

Description:

• Developed by Fari Hamzei, HAPISPRWEEKLY plots weekly SPR levels using day session data, originating from CME and CBOE floor trading practices.
• Green line represents support (downside break), yellow line marks the pivot (neutral zone), and red line indicates resistance (upside breakout).
• Recommended for hourly charts to capture weekly trends, providing clear directional signals for traders.
• Example: A break above the red resistance line signals a potential bullish breakout.

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., hourly bars for weekly 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 the chart for ES futures, HAPISPRWEEKLY resistance is marked at 5805 (red).
• Subsequently, price is holding above 5630.25, challenging 5702.
• Price is using 5535.75 as normal support, with 5630.25 aggressive support in this OTF trade.