SR Key Breakout and Jump Levels
Key Breakout and Jump/Fall levels. No lagging. No repaint.
- Trend line is useful for detecting pattern, which is intended for the triangle pattern, Support & Resistance lines, and as a breakout up or down line.
- The trend lines are formed first before the price of the pair reach it. So it does not repaint.
- Each line has a description, such as Support, Resistance, Current-Support as key breakout down, and Current-Resistance as a key breakout up.
- Each broke out line turns into a new support or resistance line. These changes run automatically and in real-time.
- S/R horizontal lines nearest to the trend line are strong S/R levels.
When human is under pressure, or sometimes under normal circumstances, people often forget about something trivial but actually important. That is a pattern that channel since the beginning has indicated signs of a breakout or breakdown. And when the price is in a consolidation period, sideways, humans often forgotten any triangle pattern. Which makes them ultimately surprised when a breakout or breakdown coming.
This indicator will automatically draw the channel and pattern, and the upper and lower limits in the event of a breakout and breakdown. Scalper or Intraday traders will be able to utilize these indicators on a scale of H1 and H4. Or even on a larger scale charts can be used for Swing.
Use this indicator wisely and remain on good MM, and advised to immediately lock the position that has been moving in the direction expected. Because the face of the market is not easy. Better identify all the signs were there before taking trading positions, including channel and marks the beginning before the breakout and breakdown, and the extent to which the limit of a price jump or jump during high volatility. You do not need to hurry for a drawing and pattern channels because of this indicator works for you.
For this module the following currency pairs should be available on your MetaTrader 4: EURUSD, USDJPY, GBPUSD, USDCAD, USDSEK, USDCHF, EURGBP, EURJPY, EURCHF, EURSEK.