Market / MetaTrader 5 / Utilities /

Support Resistance and Signal

99 USD

Demo downloaded: 12

Published: 26 March 2022

Current version: 1.0

Support Resistance and Signal

Utilities
Benjamin Claude Henri Paul Ruaux
Benjamin Claude Henri Paul Ruaux
France

France

870
1 topic 14 comments
Version: 1.0
Activations: 5

This EA allows you to manage support and resistance zones on MetaTrader 5…but not only: To your buying and selling zones (you can configure 2 sellings zones and 2 buyings zones),
you can add 3 options (2 with multiframes) to enter a position:

Option 1:this is the option that enters a position without a signal: as soon as the price reaches the zone, the robot sends a trade.
Option 2:here the robot will wait for a break in the selected timeframe. Example: you put your zones on an H4 graph (for visibility you leave it on the H4), and you want a signal in 15min with a candle break: select timeframe 15 in the EA.
Option 3:same principle as option 2 but with an engulfing.

Trades are launched 100% auto when you have configurated your zones.

To optimize the trade: there is a trade manager with:
Lot size
SL
TP1 with partialClose.
Sl after TP (for BE: 0)
TP2

Recommendation :

For swing trading: take H4/Daily zones or higher and update the BUY and SELL zones every weekend. Because the graphics evolve.
For intraday or intraswing trading, update zones daily with H1/H4 timeframes
For scalping: updated zones several times a day…..with timeframes in minutes.

more...

Screenshot #1 Support Resistance and Signal

Screenshot #2 Support Resistance and Signal

Screenshot #3 Support Resistance and Signal

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Important : have a good money management with this tpe of EA (little lot size....and avoid margin call) The EA takes a trade when 2 conditions are met: The achievement of an RSI level, and the break of a moving average of your choice. When the trade is initiated: the SL is positioned (in pips) the TP1 can be: the kijun, or another moving average, you can configure a value approaching the TP1 (which avoids the price shift of brokers) the partial close is done the SL after TP1 can be configured

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Support Resistance and Signal

Benjamin Claude Henri Paul Ruaux

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