Day Trades Support and Resistance

5

Day Trades Resistance and Support (daytradesSR) is an indicator composed of

1.  The main line (support/resistance line),  which shows

i.   either UP or DOWN trend

ii.  levels of dynamic support or resistance   

2.    A specific range defined by a line for range high and another line for range low.   These lines serve as weak secondary support or resistance.   

3.   When the main line (support/resistance line) is first hit by the price after a detected trend reversal, either an UP ARROW (support) or DOWN ARROW (resistance) sign will appear on the main line.

4.    There is an option for ARROW signs appear on the price as soon as a new trend is detected, i.e. trend reversal.  

Users should examine their trading positions rigorously whenever the abovementioned 3 & 4 happen.

All abovementioned levels can be read from the MT4 Data Window (Ctrl-D).

Input parameters:

-    Trends Detection Sensitivity:  It has options from high to low, which controls the baseline for predicting trend reversals.    In case of lower sensitivity,  a longer baseline is used and the indicator becomes less responsive to price changes. 

-   Short trends filter:  It has options from strong to weak, and defines the threshold of price actions identified as an early sign of trend reversal.  The stronger the filter, the more short trends will be filtered out.  

-   Technical Objective (since version 2.0):  It has 3 options to set the SR level more closely to the price:  General analysis, Trading (General), Trading (Aggression).   

Timeframes:  as short as 1-min timeframe for day trades, and up to 4-hr timeframe for traders looking for long trends.       

Screenshots: EURUSD with default input options for 1-min, 5-min, 15-min, 30-min, 1-hr and 4-hr timeframes (Ver 1.0)  

Day Trades Resistance and Support (daytradesSR) is a professional grade forex indicator with proprietary algorithm. 

Designed for day trades.  Suitable to both traders and analysts. 


Comentários 1
Aravind Kolanupaka
10054
Aravind Kolanupaka 2021.02.15 16:21 
 

Useful indicator to confirm trend direction

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Naked Forex Kangaroo Tail Pro Indicator Kangaroo Tail Pro Indicator is a pattern recognition indicator for Forex, Stocks, Indices, Futures, Commodities and Cryptos. The Kangaroo Tail is a multi-bar pattern. The Kangaroo Tail pattern is very effective and is very simple to trade. The strategy that comes with the Kangaroo Tail is based on price action. The indicator does what it was designed for: displaying Kangaroo Tail patterns.   Don't expect to follow the up and down arrows and make money
PairMaster Buy Sell Arrow Indicator for MT4 Trade Reversals Like a Pro — Catch Every Swing Point with Precision The PairMaster Buy Sell Arrow Indicator is a powerful MetaTrader 4 tool built to identify high-probability swing trading opportunities . Designed for traders who value accuracy, clarity, and simplicity, PairMaster detects key market turning points and plots intuitive buy and sell arrows directly on your chart. Key Features Accurate Swing Point Detection – Automatically identifies ma
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1. Specifically used on EURUSD 15Min timeframe 2. Default parameter is ready for direct trading 3. A fix Stop Loss/Take Profit of 764 points (76.4pips) for a new position 4. A maximum of 1 additional position is added upon specific condition.   5. Proprietary algorithm is used.  No martingale.   Not a cheating EA using.  However, use on other currency pairs is NOT recommended. 6. The only parameter you need to enter is the lot size for new position. 
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Aravind Kolanupaka
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Aravind Kolanupaka 2021.02.15 16:21 
 

Useful indicator to confirm trend direction

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