Support and resistance trading

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Jox90
1018
Jox90  

Hello. I realized that the most effective trading method is buy/sell at breakout of resistances/supports. It's a method that works most of the times if a trend indicator is used in addiction. And that's the point, "most" of the times not "all", because sometimes price breaks support/resistance but a little, and doesn't continue along the trend. So I'm wondering: how to know currently when the price breaks a support/resistance but turns back and doesn't continue? Is there a way for you? I know "all" is impossible but I would like to improve this method...any opinion is appreciated. Thank you

Konstantin Nikitin
10600
Konstantin Nikitin  
View on different TF. We have history. From it and consider. The future is unknown.
Sergey Golubev
Moderator
108483
Sergey Golubev  

Market Condition

The beginning:

  1. Market condition indicators/tools thread 
  2. level trading as support/resistance - the thread
  3. Everything about support/resistance - the thread
  4. Market condition and EAs thread 
  5. How to use Support and Resistance Effectively - educational thread 
  6. Trend indicators thread
After

  1. Market Condition Evaluation (2 EAs were created) - the summary 
  2. Market Condition Evaluation based on standard indicators in Metatrader 5 - the key thread 
  3. Market condition - AbsoluteStrength indicator - the page

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Trend Line

Trend Line Trader EA

  • Trend Line Trader EA thread. This TLB EA draws trendlines using fractal calculations you can choose either for a 2 fractal trend line or a 3 fractal trend line, the Ea should find 2 or 3(your choice) fractals that line up and draw trendline off that, and if down trend will draw trend lines on highs and on lows for uptrend, if close greater than trendline for buy and less than trend line for sell. There is an option to use moving average for confirmation it is coded is close greater or less than current close then buy or sell. Also the EA can use volty stops for trailing if desired.
  • TLB_v1 EA - the post. It is Trend Line Trader EA improved version - added a jurik version of bb stops: if you prefer hardly any jurik just set the length to a low number. Also added an option so like using the ma there is a true or false to use or not.
  • TLB-rev EA - the post. Switched the buy/sell logic around on the trend lines and the confirmation Ma's, on the Ma's by default its a ma channel.
  • TLB-rev-1 EA - the post. It is improved version with Volty Channel Stop on jurik indicator.
  • tlb-rev-1.01_nmc EA the latest version for MT4 600+ builds - the post.  
TrendLine Alert Indicator - the post.

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Sergey Golubev
Moderator
108483
Sergey Golubev  
Jox90
1018
Jox90  
Unfortunately these links are not useful for what I need...thank you anyway
nelayan79
546
nelayan79  
You can check on long trend, where is the next S/R. The breakout or breakdown is watch running price on short trend usually. Thankyou.
Jox90
1018
Jox90  
nelayan79:
You can check on long trend, where is the next S/R. The breakout or breakdown is watch running price on short trend usually. Thankyou.

I don't understand clearly what you mean, please can you explain better? Do you mean watch higher timeframes??

nelayan79
546
nelayan79  
Jox90:

I don't understand clearly what you mean, please can you explain better? Do you mean watch higher timeframes??

Yes sir, there are different S/R for timeframe. Timeframe its just view of one side.
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