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Dave90210
1155
Dave90210 2014.12.13 16:53 
I'm planning on doing an EA that trades based on support and resistance levels. Will this be possible? If not what are some work arounds to get this to work?     
Gert Jakobus Visser
239
Gert Jakobus Visser 2014.12.14 14:04  
Hi, I do not believe it is possible, because ea's cannot read price action, they rely on technical indicators. It might be programed to pick up support levels on such an indicator, but price levels I don't think so.
Trevor Schuil
2364
Trevor Schuil 2014.12.14 14:14  
sitestuff:
Hi, I do not believe it is possible, because ea's cannot read price action, they rely on technical indicators. It might be programed to pick up support levels on such an indicator, but price levels I don't think so.

I use the XigXag indicator to generalize support or resistance

https://www.mql5.com/en/code/11353

 

after all, we are always guessing 

XigXag
XigXag
  • votes: 31
  • 2014.05.27
  • Trevor Schuil
  • www.mql5.com
Typical zigzag indicator
Yiannis Georgiou
140
Yiannis Georgiou 2014.12.15 08:19  
You can define resistance and support with Pivot Points Indicator or you can define them to look for the Higher or Lower of a period of time , example The high of the last 20 candles is a resistance.
Dave90210
1155
Dave90210 2014.12.21 12:54  
Yiannis:
You can define resistance and support with Pivot Points Indicator or you can define them to look for the Higher or Lower of a period of time , example The high of the last 20 candles is a resistance.
What's the most effective way of doing this? Also theirs strong support and resistance from longer time periods and daily support and resistance points. How do find and identify both?  
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