Supports, resistances and Tradensea

Support and Resistance lines

Support line:

Also known as support. A line used in technical analysis that, based on past values, defines a lower level that the price is expected to have difficulty breaking through.

Resistance line:

Also known as resistance. It defines an upper level from past values that the price is expected to have difficulty breaking through.

If we know these lines and levels, we can determine the levels between which the exchange rate is moving and where it will turn. In a SpotBot setup, this can be important because if you draw these lines for yourself, you can determine where to buy and where to sell. In Tradensea's robot, you can set the number of repetitions and even set it to unlimited.

For example, in a sideways market, set the robot to repeat several times. This way, both buying and selling are repeated automatically, without the need to intervene in the trade.