How to use Support and Resistance Effectively

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Sergey Golubev
Moderator
106720
Sergey Golubev  

Please find indicator (in download area) which is forecasting the support and resistance of current day based of previous day. All the calculation is based on Thomas R. DeMark book "New Science of Technical Analysis".

Works on the timeframe less than H4 (including H4 of course).

Files:
Myxu
4
Myxu  

what is the name of this indicator?

Forex-TSD Master
1430
Forex-TSD Master  

Hello new digital, how do you think we should use this indicator?

Best regards

Sergey Golubev
Moderator
106720
Sergey Golubev  

Name is i-DRProjections_v.0.1.

You may find it in download area in forecasting indicators' section https://www.mql5.com/en/forum/172904

Besides an other indicator is herehttps://www.forex-tsd.com/showthread.php?t=89

And many of them I may be found here. Every 2nd or 3rd indicator is showing the S/R level as it is stated from their description.

forexts, I tried. Just to see what is that.

I found this indicator interesting. I do not have any idea yet how to use it now.

Sergey Golubev
Moderator
106720
Sergey Golubev  

Thanks for starting this thread.

It is really important subject.

sailor
492
sailor  

hey

I have posted a breakout indicator and it is posible to use it as sup/res indicator and trade them

Sergey Golubev
Moderator
106720
Sergey Golubev  

Thanks Sailor

Just for everybody: it is located here

https://www.mql5.com/en/forum/172989

Sergey Golubev
Moderator
106720
Sergey Golubev  

Support & resistance indicators

Support&Resistance and Pivot.

Files:
Sergey Golubev
Moderator
106720
Sergey Golubev  

Bubble,

I found the same information on the net.

You mentioned some indicator for estimating this level. But we have a lot of indicators which suppose to estimate the Support & Resistance level as stated by writers of these indicators. How can we know exactly about it? I mean that those indicators are really showing the S/R?

Sergey Golubev
Moderator
106720
Sergey Golubev  

I was started to write. Just started.

I can write very simple EAs or indicators only.

Later I will.

Sergey Golubev
Moderator
106720
Sergey Golubev  

Support and Resistance

Please find some indicators which are forecasting something.

First is i-DRProjections_v.0.1.

This indicator shows the support and resistance of current day forecasting on the base of previous day. All the calculation is based on Thomas R. DeMark book "New Science of Technical Analysis".