Automated Support Resistance A2SR for EURGBP
Automated Actual Support & Resistance: no lagging, no repaint
This version is designed for Scalping (intraday trades) and only able to be used in M15 timeframe and below (M5 and M1).
The market is something extraordinary. Something extraordinary cannot be done in the ordinary way, or common way. In fact, the market is not easy, and more than 90% of traders have failed. The market must be done in an extraordinary way. This is why A2SR comes in handy. In this world, nothing is too easy, especially for promising market advantage. There is a risk behind the market. So, start by learning how to work with A2SR, and leave the common and ordinary ways of trading. Start to sell from wave-top, and buy from wave-bottom, because this is the first best opportunity before many people who use lagging indicators realize that the trend has changed.
This indicator is mostly needed by
- Professional traders who are tired of drawing to find support/resistance before making a trading plan.
- Traders who do not want to get stuck into the thousands of combinations of indicators, which are actually lagging and repaint, and understand it is time to prevent floating.
- Traders who need to recover their account.
- Actual support and resistance available in the chart.
- Trendline to show patterns to prepare breakout or breakdown, and to define stronger S/R line nearest to the trendline.
- Trend today.
- USDx and EURx moves on H1, H4, D1, and W1.
- Overbought and oversold.
- Range price that projected moves on H4, Daily and Weekly in pips calculations.
- and also automated Fibonacci in standard ratio and with optimized ratio.
How to work with S/R
- This leading indicator shows each level of support/resistance in the future before the price reaches these levels. With A2SR that automatically figures out S/R in real time, you will always have plenty of time to study the current market sentiment to make a Swing trade within a week, medium-term, long-term, or even intraday trades (scalping).
- Each line below the current price is support, and each line above the current price is resistance. Regardless of the timeframe used, A2SR always shows you each S/R level from the higher scale. A2SR has benefits for creating a wave of trends on each S/R levels.
- Basically, the price will rise from support and fall from resistance. Keep in mind that the price will rise suddenly after it reaches support level, and price will suddenly fall after reaching resistance level. Most effective strategy for A2SR is to place a Buy Limit pending order on strong support, and Sell Limit on strong resistance.
- SR line can be used for confirming breakout or breakdown.
- Further details have been described in the Comments and User's Guide and general description here.
- Here is also example for creating a trading plan, Swing style
Before applying A2SR onto the chart, please refresh the chart once at each timeframe (M1, M5, M15, H1, H4, D1, W1, and MN), because A2SR shows us S/R at higher timeframe although we are using lower timeframe. Also, check "Show object description" in chart properties.