Support and Resistance

SUPPORT AND RESISTANCE

Support and Resistance Indicator for MetaTrader 4 (MT4) draws the last 2 support and 2 resistance channels. Support Channel is shown with green and the Resistance Channel is shown with red. There is also one more color which is grey that indicates Support becomes Resistance and Resistance becomes Support.

SOFTWARE INFORMATION

WHAT IS SUPPORT?

Support is a price level where a down trend can be expected to stop falling any further and bounces back up

WHAT IS SUPPORT?

Resistance is a price level where a up trend can be expected to stop rising any further and pull back.

WHAT IS SUPPORT BECOMES RESITANCE?

Once the price break and close below a Support zone, that broken Support zone will become Resistance zone .

Example of Support becomes Resistance.

WHAT IS SUPPORT BECOMES RESITANCE?

Once the price break and close above a Resistance zone, that broken Resistancet zone will become Support zone .

Example of Resistance becomes Support.

INDICATOR SETTINGS

Alert and Mobile Notifications

NOTIFICATIONS

Support and Resistance Indicator is with you wherever you are. Why spend time just glaring at your screen and hoping something finally will happen?
Why not spend that time actually being productive?
The most popular and unique feature of the Support and Resistance Indicator allows you to do exactly this.
A notification will be sent to your smart phone if you have MetaTrader 4 (MT4) installed or be shown as a pop-up on your monitor.
This way your trading will not get in the way of your business and private life.

NOTIFICATIONS

SUPPORT AND RESISTANCE TRADING STRATEGY

HOW TRADE SUPPORT AND RESITANCE?

SUPPORT CHANNEL TRADING STRATEGY

Entry: Sell after candle is closed below Support channel

Target: Next Support Channel

Stop: Use 1:2 Risk/Reward ratio

RESISTANCE CHANNEL TRADING STRATEGY

Entry: Buy after candle is closed above Resistance channel

Target: Next Resistance Channel

Stop: Use 1:2 Risk/Reward ratio

SUPPORT - RESISTANCE CHANNEL TRADING STRATEGY

Entry: Sell after bearish candle is closed at Support becomes Resistance area.

Target 1: Next Support Channel
Target 2: Next Major Support Channel

Stop: Use 1:2 Risk/Reward ratio

RESISTANCE - SUPPORT CHANNEL TRADING STRATEGY

Entry: Sell after bearish candle is closed at Support becomes Resistance area.

Target 1: Next Support Channel
Target 2: Next Major Support Channel

Stop: Use 1:2 Risk/Reward ratio

TREND FOLLOWING TRADING SYSTEM

Entry: At the downtend, sell at candle close below Support channel.
At the uptrend, buy at candle close above Resistance channel

Target: At the downtrend first major Support channel of higher time frame
At the uptrend first major Resistance channel of higher time frame

Stop: Use 1:2 Risk/Reward ratio

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