Support-Resistance -AC

Projects all support/resistance lines.

 

 

Installation: Open your MT4, scroll up to File>Open Data Folder>MQL4>Indicators and paste the EX4 file(s) there. Restart MT4.

 

How It Works

Support and Resistance levels are one excellent way of adding confirmation to your trades or many traders even trade them individually. Most traders will only trade the "critical" most strongest support and resistance levels but there are some who don't mind trading the smaller levels as well. How do you know which levels are "small"? Well this indicator will help you identify them. As you can see, all the lines are not the same size, the bigger the line, the MORE support//resistance there is, the smaller the line, the less support/resistance there is. If you are one of the traders that likes to take more chances and "Scalp", this tool is excellent to use. You can trade a reversal at these levels or trade a break-out. It is really up to you. It will also automatically plot the Fibonacci Retracement so that you can match the indicators. In our previous newsletters we sent out a Fibonacci indicator and explained how to use it. This indicator is definitely one you should have.

 

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