How to use Support and Resistance Effectively - page 59

Tmac__
305
Tmac__  
mp6140:
an interesting, and wonderfully accurate s+r overlay is called "support and resistance" --- when you search, make sure to use the "and" cause thats impt.

that one does an admirable job for the majority of trading, while "SuperSR7" does a great job at the VERY tops and bottoms of the range !

Im sure newdigital has posted these (prob where i found them) but just reminding all of you they exist, they work, and they produce pips for good little boys and girls, especially on impt holidays and for those trading in Zaire !

enjoy and trade well

mp

I use S and R but cannot find the SuperSR7 you mention. Can you guide me in the right direction please?

Thanks

saintmo
164
saintmo  

Might be this one.

Files:
supersr7.mq4 3 kb
speres
19
speres  
bubble:
Hi all,

2 trades this morning trading the trend with support and resistance.

see the charts for a total of 370 pips profit.

You may remember the course that i run , these are just some of the trades that the students that took the course have made.

I hope you are all having as much success as we are.

bubble

whats the cost of the course Bubble?

Tmac__
305
Tmac__  
saintmo:
Might be this one.

thank you kind sir

1221931
92
1221931  

ok

niceguy777:
If you apply the Absolute Fibonacci Framework, you can see all the support and resistance points without having to add trendlines. These points are there before you figure out where they are with trendlines, so why not just set them up permanently!?

could u tell us how to apply the absolute fibonacci framework please

junglelion
178
junglelion  

4 hour trendline

Indicator testing requested

Indicator testing is requested for this 4 hour trendline indicator.

I wrote the code to get the best of daily 4 hour high and low to form as support / resistance lines

Green is tops and Red is bottoms

I will also appreciate suggestions to make it better.

So far on live testing i am getting good results

.

Files:
woopypooky
5
woopypooky  

hi to all, i had read almost entire thread already. now problem is i still can't determine the trend (well... without using indicator)

please take a look at this chart, are we in an uptrend or downtrend?

As of today let say...i want to trade 4H or daily chart, which direction should i go?

texassurf
3
texassurf  

Wave 101

Hello my friends.

This is my first post on these forums although I am no programer I have been known to catch a wave here and there.

If one of you guys who write code in your sleep could write a trendlines maker with these skills and could signal bounces and breaks off those lines as shown in the following video we all would be having way to many pips

I move the trendlines around a bit to show relationships that I am sure any computer worth its salt could "project"

A frequency is just angles over time no?

hey,,, its worth a shot,,,

Click this image to watch the video

Thanks for this great tool

https://www.mql5.com/en/forum/176969

Happy Hunting, and thanks for a great forum.

"The reason man exists - Is to give him something to think about"

Linuxser
5921
Linuxser  
texassurf:

If one of you guys who write code in your sleep could write a trendlines maker with these skills and could signal bounces and breaks off those lines as shown in the following video we all would be having way to many pips

Some trendlines threads:

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

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

https://www.mql5.com/en/forum/174929

WishfulPIPing
42
WishfulPIPing  

What Would You Consider Major Support & Resistance

Hello all -

I would like to know what you would consider major support and resistance.

1. Would it be where a pair has hit the same price more than twice within a 24 to 48 hour period ? or does it have to be over a longer period of time?

2. Would it be where a pair hits the same price more than twice on one time frame? eg. 15 min. chart it hits the price two or more times.

3. Would it be where it the same price more than twice on multiple time frames? eg. 5 min, 15, min, 1 hr and 4 hr charts.

4. Would MAJOR support and resistance have to hit the same price more than 2 X's, 3 X's, 5 X's, 7 X's etc. etc. over what period of time?

Now that you have answered what Major support and resistance is can you explain what MINOR support and resistance is.

Knowing Minor and Major Support and Resistances would you still trade in the current direction if you were coming up to a minor support or resistance ?

Obviously we wouldn't want to enter a trade if we knew we were coming up to a Major Support or Resistance right? or would we?

Just wanted to know everyone elses thoughts on this subject.

BTW this is how I look at Support and Resistance.

Major Support would be if a pair hits a certain price more than 3 times on all of the time frames, not just one time frame but multiple timeframes. Over a period of time I usally go as for bak as 5 - 6 years.

Minor Support and Resistance would be within the last 24 - 48 hours on a single time frame like a 15 min, 30 min, 1 hr. timeframe.

Let me know if you think I am wrong. I am willing to learn and definately open to any suggesstions.

Thanks for helping out

Wishfulpiping