Support and Resistance - page 2

Rafael Grecco
Rafael Grecco  

Support and Resistance can be very different for many people.

1. Traditional manually placed horizontal lines using several different timeframes.

2. Moving Average using period 100 or 200 are used by a lot of people. These indicator can act as support and resistance

3. Bolling Bands can also be used, as Pedro Pacheco said.

4. Also, there are many indicators that draw support and resistance.

I have tried all methods for a long time, I even coded several EAs to draw and use S/R.

In the end, my best results have always been using manual support and resistance horizontal lines, where I put my pending orders.

Sergey Golubev
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Correlation system

Sergey Golubev, 2018.05.30 15:57

One chart explaining positive correlation between EUR/USD, AUD/USD and XAU/USD (I am using the following indicator from CodeBase: MFCS Currency Correlation Chart) - 

Correlation chart by MT5