Simple, proven and profitable S/R system - page 2
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Nice trade example..
We had very nice verified support and the second bounce (based on the rules from the first post, we should set limit order in the S/R zone, place TP under the nearest resistance, in the same amount of pips place SL and simply go away...
But I choose a little bit different approach here. I waited for a bounce, then go buy with SL right under the support. Firstly I place the TP under the nearest resistance, but finally I closed the trade right after the break of Doji candle on M5 time-frame.
As you can see, there are simply a lot of ways how you could trade the opportunities that appear every single day. But once again, please stick to the simplest rules in the first post (or change them on your own, but firstly keep it simple) and improve little by little.
A couple of yesterday trades..
Two more examples from yesterday trading..
Another example of extremely accurate trading.
sr_zones is not compiled in MT4. What to do?
Hello, that's weird - it has the .ex4 extension and it works in my MT4. Do you have any issues with the indicator?
By the way the indicator showed a message that it wants to update, so I downloaded the new version:
We have very accurate and nice resistances both on EUR/USD and GBP/USD.
How do you access the values of the resistance and support bands from the indicator?
I want to use this in an EA.
By the way the indicator showed a message that it wants to update, so I downloaded the new version: