Automated Actual Support Resistance A2SR
A. What is A2SR?
-- Full guidance :
-- at https://www.mql5.com/en/blogs/post/734748/page4#comment_16532516
-- and https://www.mql5.com/en/users/yohana/blog
- A2SR has a special technique in determining the levels of Support (demand) and Resistance (supply).
- Unlike the ordinary way that we seen on the net, A2SR has a original concept in determining actual SR levels.
- The original technique was not taken from the internet, and it has never been published on the internet either.
- A2SR will auto select the SR level according to your trading style.
- Even though you are changing the time frame but the SR level will remain on its position.
- Because the actual SR is not obtained from the time frame you use.
A2SR has complete instruments for trading needs.
- Actual Support and Resistance.
- Market Sentiment for news event and central banks speech.
- Current Trend today, including a suggestion for placing positions.
- Auto level trend lines for SR, Breakout and Breakdown. You'll find it easier to analyze charts.
- Daily price jump and fall in average and maximum range (news events).
- Average and maximum price jump/fall at time frame H4 (news events).
- Overbought and Oversold, displayed at the same time for scale H1, H4, Daily, Weekly and Monthly.
B. Why we prefer to use A2SR?
- SR levels here are an actual level, and not obtained from the time frame as usual.
- It is leading indicator, the SR levels are available before price reach there, and it is not repaint and not lagging either.
- A2SR have been designed for creating trade plan for any currency pairs, metals, and stocks in MetaTrader 4.
- Basics of using A2SR are also available in user's guide in .pdf file, and you will get further training from the author as necessary.
- You will no longer need in busy drawing on the chart, because A2SR help you to work automatically and all instruments are completed.
- A2SR will help you to select which SR for Short-Term and/or Swing trades.
- Finally, you will have plenty of time to review the market, including market sentiment and creating trades plan.
C. Basic guide for A2SR usage.
- Please read the user's guide document at Comments page: 17.
D. Input Parameters
- Suffix Currency Pair - If your currency pair has a suffix, e.g EURUSDm, enter with m. Leave it blank if your pair currency has no suffix. Default is empty.
- SR Style - Choose your trading style: Swing, or Short-Term.
- Use Bar Chart - Chart type for A2SR is designed to use in bar chart when price reaches the SR level. Default is true.
- Display Actual SR - Display actual SR according to trading style. Default is true.
- Color level 1 - Default is clrDarkSlateGray.
- Color level 2 - Default is clrDarkViolet.
- Color level 3 - Default is clrBrown.
- Display Trend - Show you trend today and suggestion for placing position. Default is true.
- Display Arrow near strong SR (H4 only) - Default is true.
- Arrow size - The size of arrow. Default is 4.
- Use Push Notification - Receiving alert to MetaTrader mobile phone. Default is true.
- Push Notification for - 1: Arrow only, 2: SR Level and break only, 3: All. Default is 1: Arrow only.
- Display alert on screen - Default is false.
- Display Jump/Fall (H4, Daily, Weekly) - Default is true.
- Color H4 Jump/Fall - Default is clrFireBrick.
- Color Daily Jump/Fall - Default is clrForestGreen.
- Color Weekly Moves - Default is clrBlue.
- Display OB/OS - Default is true.
- Display trendline SR and Break - Default is true.
- Selectable trendline - SR can be selected for semi automated EA. Default is true.
- Color Trendline - Default is clrDarkSlateGray.
- Display Early Sign Breakout/down - Default is true.
- Display text early sign break - Default is false.
- Color D.S/R - Default is clrTeal.
- Color W.S/R - Default is clrChocolate.
- Display USD/EUR Index - Default is true.
- Margin left for IDX position - Default is 600 px.
- Margin bottom for IDX position - Default is 75 px.
- Initial range before breakout view H1 - A range for next breakout area. Default is true.
2. Display the status of the last reversal (based on MCS)
- - into the object name "revstatus", then your EA can read it.
1. Automatic select trading style of actual SR
-- A2SR will select actual SR automatically for your trading style based on time frame you use.
At the time if A2SR found 17 actual SR that available in the chart,
and then A2SR will automatically select them according to your current time frame:
-- H1, then A2SR will select style for short-term (Day trading), eg. 8 actual SR will displayed on chart.
-- H4 and above, then A2SR will only display 4 stronger actual SR for Swing style.
-- When you use M5 and below, then A2SR will display all of 17 actual SR because of them are able to use for scalping.
2. Added options for the type of SR that will be displayed based on trading style
-- Swing, day trading (short-term) and scalping.
-- Will be applied when you set Automatic = "false" (see A.1)
3. Added option to change color - Early Sign Breakout/down
B. Special update:
-- Improve performance significantly.
Added balance value analysis in major currencies to increase accuracy of OB/OS based on MCS
-- see update version 9.10
-- restore MCS graph from marking after OB/OS has ended.
The original technique for getting overbought and oversold (OB/OS)
for trade opportunities based on MCS (Major Curency Strength)
A2SR will immediately send you a notification at the time a currency reach OB/OS level.
Default is 45, and bigger number will be much better.
A2SR will also mark this situation on the MCS graph.
-- When a currency rises high to reach the overbought MCS level,
-- then A2SR will immediately send you a notification preparing to sellback a currency at the nearest Resistance.
-- Vice versa, when a currency falls and gets lower, reaching the oversold MCS level,
-- then A2SR will immediately send you a notification preparing to buyback a currency at the nearest Support.
When a currency is overvalued. or vice versa is too cheap,
-- then usually the central bank will act to intervene in the market by reversing transactions.
Why? Because actually, a country's central bank wants stability,
-- that is the value of a currency that only moves within a certain range.
We must realize that the central bank and the state must make a lot of planning,
budgeting, payment of trade debts, price competition for products and services, and so on.
Even if the value of the currency is forced by market participants to keep going up,
-- the central bank will try to stabilize it again.
That's why there are more sideways (ranging) than the number of price rallies.
Even if the value of the currency before the rally breakouts,
-- it will start with the sideways first in the several periods.
A2SR uses all time frames and all currency pairs to get its performance.
Unfortunately the tester cannot provide the multiple data needed at the same time.
Important features in A2SR that cannot be presented properly in tester are
1. Major Currency Strength (MCS) and
2. Market Sentiment (MS).
It is recommended that A2SR not be used in a tester
-- due to the limited availability of data that must be processed in the same time.
-- Send notification to email (true/false)
-- Default : false.
-- Add new option : Show Object Description
-- Display description for trendline (true/false)
-- Default is true.
1. Allow user to use their own Fibonacci.
-- (requested by user)
2. Increase performance.
-- Traders prefer to use reversal techniques.
-- Traders prefer also to use breakout and breakdown techniques in lower time frames.
1. Fix MCS algorithm on push notification.
2. Duration (5M, 15M, 30M, 1H) is now included in text.
Push notification (alert) at the time MCS catch new trend for each major currency.
1. Activate on 1 chart in the most up-to-date pair currency: e.g EURUSD
-- by set "true" in the option "Alert (Push Notification) for MCS"
2. Select the duration of checking trend changes.
-- Available option : 5, 15, 30 minutes and 1 hour.
3. We can activate this feature on any time frame.
-- A2SR will always read MCS at every new bar/candle according the duration in the option (number 2).
After that it is recommended not to change the graph scale or other options,
-- because MT4 will re-read the basic function OnInit () which causes the previous MCS trend value to return null,
-- and we must wait for the next duration to get the trend movement on MCS.
1. New option "Space between object" as a decimal number.
2. A2SR will arrange the position of the object automatically in the chart.
3. Default value 1 for screen resolution 1366 x 768
4. For user who use higher resolution (1920 x 1080 or above) can set with any decimal number in the option
-- e.g : 1.50, 2.5, 3.30 and so on to fit your screen resolution.
Displaying MCS and MS objects for
-- 4K Screen Monitor.
1. Default resolution is good at 125%.
2. When user use higher resolution at 250%
-- then please reduce font size in option to make objects fits on screen.
New available option:
1. Display MCS onto chart (for non 4K screen).
2. -- or as a comments on the top left corner.
Number 2 is a temporary solution for users who use 4K screen.
-- A2SR development is still continuing.
1. Major Currency Strength.
-- Assistance for choosing a best currency pair today.
2. Button to scroll the chart.
Through the button, we can scroll the chart up or down,
and the size of the chart remains proportional.
-- Makes it easy to place pending orders (buy-limit, sell limit) on each actual Support/Resistance.
1. Updating for Daily Jump/Fall level and Weekly Moves.
2. Improve performance.
2. Draw an object when price meet conditions for OB/OS.
--- to remind you visually.
Wherever you open the time frame, A2SR will send you
a push notification for OB/OS H4 and Daily
to catch opportunity on price correction at next SR.
OB = wait for next Resistance.
OS = wait for next Support.
Strong Breakout and Strong Breakdown with Push Notification alert.
On this pattern then price rally could be expected.
Display Market Sentiment option for 4K screen.
1. Users can adjust the font size.
2. The layout of letters and numbers will be adjusted automatically.
that have been determined by the user.
+ Add new option for title and text size for Market Sentiment and other text information at bottom left.
1. Arrow only.
2. SR level and break only.
1. New Actual SR: dashed line with text price in the middle of line.
2. Arrows to remind us that the price is close to Strong SR (H4 only).
3. New trendline breakout/breakdown taken from actual SR.
4. Alert for Push Notification and screen ~ when price is reached important level.
eg. Key breakout/breakdown, actual SR, Daily Jump/Fall on news/speech, etc.
5. Minor fixes:
a. Rectangle as sideways area to prepare next breakout/breakdown.
b. Users can choose whether to use a bar chart or other.
1, 2, 3, 4, 5.a : no lagging and no repaint.
SR Style :
1 for Swing,
2 for Short-Term.
Default is 2.
A2SR will auto select the SR level according to your trading style.
Even though you are changing the time frame but the SR level will remain on its position.
Because the actual SR is not obtained from the time frame you use.
- Suffix currency,
- Early sign for breakout/down,
- Initial Asian's range today, to prepare breakout in Session Europe & U.S
so that new users can more easily understand.
SR level value from level 1, 2 and 3 can be adjusted.
Higher value will be stronger for determining Support and Resistance.
It will also useful for :
CFD - Indices, Equities,
and more benefit for Swing traders.
A2SR makes selection for stronger S/R automatically.
++ Only strong S/R that will be displayed on a chart.
This version is able to support trade in any style, Swing and Scalping (Intraday).
1. Display the stronger S/R.
2. Display power index USD versus EUR scaling in timeframe H1, H4, D1 and W1.
(Make sure USDSEK and EURSEK are available in your MT4)
3. Display the trend that available today.
4. OB/OS scaling in timeframe H1, H4, D1, W1 and MN
5. Automated Fibonacci scaling in timeframe H1, H4, D1, W1 and MN
6. Leveling price jump/fall - especially for breaking news
7. Display average moves (pips) for H4, Daily and Weekly, and remaining pips as room for next moves.
8. Automated trendline for breakout and breakdown signal.
- USDx and EURx
- Jump/Fall levels.
2. The trend lines are formed first before the price of the pair reaches it. So, it does not repaint.
3. Each line has a description, such as Support, Resistance, Current-Support as key breakout down, and Current-Resistance as a key breakout up.
4. Each broke out line turns into a new support or resistance line. These changes run automatically and in real-time.
5. S/R horizontal lines nearest to the trend line are strong S/R levels.
2. Showing recommendation for placing pending orders based on the current daily trend.
3. A2SR displays boundaries Support & Resistance levels in real time along with the recommendation for mileage price.
With A2SR then you will have a lot more free time for things that are more useful than just busy drawing on your chart that would look too crowded and dirty :)