This helps you pick out which are immediately the stronger levels to watch out for. I am allowing it to be used for free for these 3 most popular pairs. I still think there is much to be improved so please test it and send me your feedback so I can keep improving this indicator.
Support and Resistance Basics
Okay I created this account just to write this: Thank you very much sir, this indicator is amazing but I have some questions:. Do you usually combine lower time frame with what you are looking at? For example, I am on H4 chart, do you think it is useful combining H1, M30 and M15 levels on the chart? Thanks a lot! But I always combine it with other indicators to confirm. Free Forex Trading Systems. After years of testing, the most important support and resistance levels can be broken down into these 3 : 1. Okay I created this account just to write this: Thank you very much sir, this indicator is amazing but I have some questions: Do you usually combine lower time frame with what you are looking at?
How do you use this to trade? Do you trade the breakout or the reversal? Which currency pairs do you find this works best on?
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Holy smokes sorry for the late reply. Let me get back to you on this soon! If you are in a buy trade, then resistance levels provide options for you to evaluate and place your take profit order.
Again, refer to chart above. Another way that the support and resistance indicator can be used is for trade management purposes, mainly trailing stop.
If you look at the chart above, you can see how you can trail stop a buy trade and lock in profits as your trade moves in favor. In this way, you ride out most of the trendy move and capture much of the profits as possible in that move. Live Webinar Live Webinar Events 0.
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Support and Resistance View support and resistance levels for forex, commodities and indices. Learn where they are strong, moderate and weak and discover the direction and strength of the trend.