Supports and Resistances
Supports & Resistances is an indicator that draws and reads automatically support and resistance levels like trendlines and fibonacci retracements to identify the most likely areas where the market will bounce. It mainly generates several horizontal and diagonal lines based on past highs and lows.
The strenght: Reading on the code the supports and resistances areas permits to use the indicator in the Expert Advisor.
The risk: Too many drawn lines on chart could confuse the manual trader but it is possible to choose what lines to draw and what not..
The performance: The multiple types of supports and resistances, calculated on the current timeframe on higher ones, let traders know with high probabilities which are the best price support and resistances areas.
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