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Classic Chart Indicators and Studies Find descriptions, formulas, parameters, and other help for the indicators and studies used by the Barchart.com Classic Charting application below. When charting any of the studies, the argument coloring is red, green then blue. For example, on a Moving Average chart [9, 18, 40], the 9 day would be the red line, 18 day would be the green line and the 40 day would be the blue line. The argument order is displayed on the chart next to the study name. Support/ResistancePurpose: Identify potential price objectives. This study is calculated by totaling up the total number of closing (or last) prices contained inside a specified price band. The length of a given bar is the percentage of the number of closes in the price band compared to the number of the closes in the band that had the greatest number of closing prices. Longer horizontal bands represent prices where a greater number of closes or higher trading volume occurred. This is a very quick and easy way to identify historic areas of consolidation which could be stopping points in future price moves. The concept used with this study is that those areas where trade was concentrated in the past will offer support and resistance to future price moves.  TOP
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