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# Support and resistance bands

Support and resistance bands - is a unique indicator that draws a channel, relying on historical values ​​of support and resistance levels. You no longer need to independently determine what level of support and resistance is currently relevant, the indicator will automatically determine the level closest to the price and display it on the graph in the form of the upper and lower bands.

### Features

• Unlike the Bollinger Bands indicator, this indicator builds the channel bands based on the previous values ​​of the price extremes (support and resistance levels).
• The indicator automatically determines the level of support and resistance closest to the price, you do not need to clutter the chart with numerous lines.
• The indicator is able to predict the next level of support and resistance in the trend areas of the chart.

### Settings

• extremum detector period - the period of the price extremum detector. The longer the period, the more powerful peak prices are taken into account in the indicator algorithm.
• number of extrema - the number of price extrema for calculating the indicator. The larger this parameter, the higher the accuracy of the construction of the upper and lower bands of the indicator. Large values ​​of this parameter can greatly slow down the indicator.
• band shift - this parameter is responsible for drawing additional upper and lower bars of the indicator. If this parameter is 0, then no additional indicator bars are displayed. If the value of this parameter is positive, additional indicator stripes are displayed, usually located further from the main bands. Additional indicator bands are also calculated on the basis of support and resistance levels, however in this case the closest N levels do not participate in the calculations, where N is the number equal to the band shift parameter.
• use middle line - the flag responsible for displaying the midline of the indicator. If the parameter is true, then the middle line of the indicator is displayed. The average line of the indicator is calculated by the formula (up + dn) / 2, where up and dn are the values ​​of the upper and lower bars of the indicator.
• midline calculation mode - this parameter determines, by what kind of bands of the indicator, the value of the midline will be constructed. If the parameter is true, then the middle line is calculated by additional indicator bars, if the value is false, then the average line is calculated by the main bands of the indicator.
Comentarios 4
359
2018.04.26 14:47

thanks

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This is a very comfortable tool to analyze important trend-channels of the market. It calculates the channels according to your settings on the panel and automatically saves every important setting for every symbol and period! With it's graphical interface, it is very easy to use! Please watch the YouTube video in HD. You can find a demo-version (limited to USDCAD) here: Trend Channels Demo This tool does not work in the strategy-tester! Parameters: ChannelsColorM1 - ChannelsColorMN1 : Colo
30 USD
Ariel Capja
This is the FXTraderariel-Indicator . It scans the market for opportunities and creates a buy or sell signal. Depending on the settings and trading style, it can be used for scalping or long-term trading . The indicator can be used on every time frame , but we advise to use it on H1, H4 and D1 . Especially if you are a novice trader. Pro Traders can also you use it for scalping in smaller timeframes (M1, M5 and M15). This indicator is not a complete trading system. It doesn't give you exit point
100 USD
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359
2018.04.26 14:47

thanks

13252
2018.06.30 13:36

2 Star (40%) = Undecided

3 Star (60%) = Acceptable

4 Star (80%) = Good

5 Star (100%) = Excellente!

5537
2018.07.10 19:43

Average Donchian Channel...

144
2020.09.09 23:57

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Respuesta al comentario
Versión 1.2 2018.03.30
Added double buffering of support and resistance levels. Now the support and resistance levels on the last bar are relevant at any time. In the old version of the indicator, support and resistance levels were relevant at the time of closing the bar.