"Level Bounce": the wall that held
Level:
Short version for experts: tables, lists and screenshots only.
Words in this lesson (5)
Order book — The list of all buy and sell orders at every price at this very second.
Wall — A very large order in the order book at one price — many times bigger than its neighbors. It often acts as a wall for the price.
Candle — A bar on the chart for one stretch of time: where the price opened, where it closed, its high and its low.
Level — A price where the market has already turned before. Support is below the price, resistance is above it.
Screener — A filtering program: it scans hundreds of stocks or coins and shows only those that match the given criteria.
The idea
A large order in the order book — a wall — holds the price: it gets hit, but the price doesn't go through. If the wall is real and the pressure on it has run out, the price bounces. That's what the screener is built on. Its foundation is the order book and the tape, not candles.
↗ Open "Level Bounce" in MAMAY ↗ Signal performance in MAMAY ▶ "MAMAY Breakout"