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Levels of support or resistance by Gerchik

The indicator for the detection of the local resistance/support levels for the trend breakout/rollback trading.

With the help of this indicator the matches of the Low/High prices are found, which allows to identify a large order placed by a moneymaker. Once the level is found, a signal is generated, the local resistance or support level is underlined. You just need to place order to the breakout/rollback from the trend line.

Suitable for trading using the Gerchik system.

The indicator works on multiple currencies and on any timeframe.


  • Color of line - color of the line to underline the resistance/support levels.
  • Thickness of line - thickness of the line
  • Analyze bars - size of the analyzed candlestick group
  • Deviation (in Pips) - allowed deviation in pips during the evaluation of a candlestick group
  • Min matching bars - the minimum number of matching candlesticks
  • Name file in Sounds - file name in the Sounds folder to play a sound signal when a new level is found.
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