Volatility Based Support & Resistance

Author: Optuma Team Last updated: Sep 16, 2022 22:56

Overview

The Volatility Based Support and Resistance (VBSR) indicator defines important support and resistance zones on a chart. The tool was developed by Northington Trading, LLC and is only available in Optuma as an optional add-on module. Please visit the Tool Store to add to your copy of Optuma.

For an an article on VBSR click here.

For an interview with Kirk Northington click here.

Volatility Based Support & Resistance 1
To add the tool to your chart, select the tool from the ND Research tool group, and left-click on the chart or indicator on which you wish to add the tool. Optuma will then draw the tool using the default settings.

Scripting Function: VBSR()

Actions & Properties

Actions

Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.

Add to Toolbar: Adds the selected tool to your custom toolbar.

Apply Settings to All: When multiple Volatility Based Support & Resistance tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Volatility Based Support & Resistance tools in the chart, page or entire workbook to be updated instantly.

Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.

Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.

Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.

Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Volatility Support & Resistance to a chart, the tool will display using the new settings.

Delete: Deletes the tool from the chart.

Properties

Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.

Show SR Bands: When selected, the Support Resistance bands will be displayed.

Show Symbols: When selected, the Symbols will be displayed.
Upper N band Style: This option expands to display the following:

Plot Style - Allows you to adjust the display style for the tool. There are 8 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step, Bars, Candles.
Line Style - When the Plot Style is set to Line, Histogram, Step, or Shaded Step, this property allows you to adjust the type of line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
Line Width - Allows you to adjust the width of the line for the tool. Moving the slider bar to the right increases the thickness of the line.
Colour Scheme - Allows you to choose between the following colour schemes for the tool: Copy Colours from Price Chart, Single Colour, Positive / Negative, Custom.
Line Colour - When the Colour Scheme is set to Single Colour, this property allows you to adjust the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Positive - When the Colour Scheme is set to Positive/Negative, this property allows you to adjust the colour of the tool when it is above the Positive / Negative Barrier. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Negative - When the Colour Scheme is set to Positive / Negative, this property allows you to adjust the colour of the tool when it is below the Positive / Negative Barrier. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Positive / Negative Barrier - When the Colour Scheme is set to Positive / Negative, this property allows you to adjust the barrier value. The default value is 0.00.
Custom Colour Scripts - When the Colour Scheme is set to Custom, this property allows you to set the colour of the tool according to your scripts. For more information on this, please click here. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Fill Up / Down Barrier - When the Plot Style is set to Shaded, this property allows you to adjust the barrier value. The default value is 0.00.
Fill Up Colour - When the Plot Style is set to Shaded, this property allows you to adjust the fill colour of the tool when it is above the Fill Up / Down Barrier. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Fill Down Colour - When the Plot Style is set to Shaded, this property allows you to adjust the fill colour of the tool when it is below the Fill Up / Down Barrier. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Fill Transparency - When the Plot Style is set to Shaded, use this slider bar to adjust the transparency of the filled portion of the tool. Moving the slider to the left will increase the transparency.
Visible - Un-tick this checkbox to hide the line from the chart.

Upper ATR zone Style: This option expands to display the properties as shown for the Upper N band Style.

Lower N band Style: This option expands to display the properties as shown for the Upper N band Style.

Symbol Size: Allows you to adjust the size of the Symbols. Moving the slider bar to the right increases the symbol size.

Lower ATR zone Style: This option expands to display the properties as shown for the Upper N band Style.

Symbol Colour: Allows to alter the colour of the Symbols that are displayed. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.

Support Band Style: Expands to display the line properties for the Support Band. The following properties can be adjusted:

Line Style - There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.Stippled.
Line Width - Allows you to adjust the width of the Support Band. Moving the slider bar to the right increases the thickness of the line.
Line Colour - Allows you to adjust the colour of the Support Band.
Transparency - Use this slider bar to adjust the transparency of the Support Band Line. Moving the slider to the left will increase the transparency.
Fill Transparency - Use this slider bar to adjust the transparency of the Support Band Fill. Moving the slider to the left will increase the transparency.
Visible - Un-tick this checkbox to hide the Support Band.

Resistance Band Style: This option expands to display the properties as shown for the Support Band Style.

Offset: Moves the tool forwards backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.

Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.

Visible: Un-tick this checkbox to hide the tool from the chart.

Show In Price Scale: When selected the current Volatility Based Support & Resistance values will be displayed in the Price Scale.

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