Support and Resistance are of the most important tools in Technical Analysis and can originate from many sources:
And all of these patterns and indicators arise in multiple timeframes.
In chartmill, we have the concept of support, resistance and channel strength. The strength will be higher when the line has more places where it touches the price formation. So lines with a higher strength have been confirmed multiple times.
When calculating the 'Consolidated Support and Resistance' we are evaluating and combining trendlines, horizontal lines, channels, moving averages and their strengths in multiple timeframes into a single set of Support and Resistance Areas.
The analyzer paints a nice overview of the global support and resistance areas. On the charts, you will see the main trendlines in the daily and weekly timeframes. The section Support/Resistance Analysis will visually display and discuss the consolidated support and resistance:
The black line indicates the current price level. The zones are displayed on the bar and color coded: the stronger the support/resistance, the darker the green/red will appear. Check out an example here.
The consolidated support and resistance zones can also be displayed on a chart:
You can achieve this by adding the overlay "Consolidated support and resistance" to your chart or use this link to a pre-configured chart.
The big advantage in the Stock Screener is that you can use single property to screen for: near support or near resistance. Alternatively, you could run different screens to check for prices near channel or trendline lines, but usually you don't care where the support or resistance is coming from.
On the Support/Resistance tab you can check for prices near important Support or Resistance areas. Typically, you can use support or resistance in 2 ways. (For short trading, you can inverse this logic):
Check the linked article for more Support and Resistance based screening examples, more theory can be found in the general Support and Resistance article.
Lots of different configurations are possible of course .... enjoy!