How to use Support and Resistance Effectively - page 6

[Michel]

tradewiser:
I currently use a vey useful way of calculating support and resistance lines. These are based on seeing how many high,low & close in last x days fall within 2/3 pips. I do this manually and is time consuming. Is there any mq4 files which does this?

I hope someone can help me here.

Thank you

Joe

Do some search for "Level_Trading" or "Level_Trading 123"

[Sergey Golubev]

Level Trading:

- level trading as support/resistance is here;

- level trading traditional rules and indicators is here.

[tradewiser]

Thank you for the quick reply but maybe i did not explain well.

What i am looking for are horizontal support & resistance lines which are made by 1 or more high,low & close which are very close in value (like 1 or 2 pips). So you look back say 20 days and see how many high,low and close are within 1 or 2 pips of each other (or % terms). This than forms a horizontal support or resistance line.

I hope this is better explanation. This is a very useful line.

Thank you for your help.

joe

[PRIMAjaya]

tradewiser:
Thank you for the quick reply but maybe i did not explain well.

What i am looking for are horizontal support & resistance lines which are made by 1 or more high,low & close which are very close in value (like 1 or 2 pips). So you look back say 20 days and see how many high,low and close are within 1 or 2 pips of each other (or % terms). This than forms a horizontal support or resistance line.

I hope this is better explanation. This is a very useful line.

Thank you for your help.

joe

maybe you can post pictures to explain more clear..

[[Deleted]]

this indicator will only draw horizontal lines. timeframe can be set.

support_resistance.mq4

[nicesurf]

Thanks for the indicators

[ryanklefas]

Hi bubble! (I like your username )

Thanks for being so generous and posting some of your trading secrets. I'm looking forward to whatever else you want to dish out.

[wolfe]

Hi Bubble,

Thank you for the lessons, they are written well. I am curious why it is you narrow the time chart up? Does this make the trend easier to spot? Looking forward to your next installment.

[RickW00716]

Thank you!

I just want to thank you for covering what I believe to be the most important aspect of a successful trading plan/strategy...I look forward to future lessons.

I will hold posts/questions until more of this subject matter is uncovered...I just wanted you to know that if there is a lack of posts it is not due to lack of interest.

[jackt]

Every day I look at chart but I never notice there are different type of trend. It's eye opening.

Thank-you very much. Hope to see more soon.

jackt