the hAnDbook of technIcAl AnAlySISfIgure 8.1 Overlay, Bounded, and Unbounded Technical Indicators.
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fIgure 8.2 Classification of Technical Indicators.
values, irrespective of the scaling employed. Horizontally based indicators like
support and resistance are also scale invariant. Horizontal overlays are indicators
where the forecasted price depends only on the price axis. Time is not an element
in its forecast.
Unlike support and resistance, trendline forecasts of potential future barrier lev-
els are time dependent. The potential support provided by an uptrend line depends