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Indicators: Support \ Resistance

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MetaQuotes Software Corp.
MetaQuotes Software Corp. 2008.05.17 05:41 

Support \ Resistance:

A version of indicators to detect Support/Resistance levels.

Author: Андрей

Franky Prasetio
Franky Prasetio 2008.07.21 09:39  
it's look like doncian chanel ya ... thankyou i like this indicator .
MQL4 Comments
MQL4 Comments 2008.08.07 14:38  

I once constructed similar indicator which basis on percentile of previous price calculation. It looks and behaves almost identical as yor inicator.

It can be usefull if you observe price and its distance from channel boundires. I have also tried such indicator to determine market type. The market is trending when price stays near one boundry and the market is ranging when it is repused form boundry.

cruncy 2009.09.23 13:01  

i will try your indicator. thanks for posting!

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