Support Resistance MTF Indicator 1.2

$14.99

Add to wishlistAdded to wishlistRemoved from wishlist 2

With Support Resistance MTF Indicator for Metatrader 4 you will be able to detect high probability reversals setups. The indicator detects so called “untouched” support and resistance price levels which nearly always produce a sharp reversal once the untouched price level is reached.

With Support Resistance MTF Indicator indicator you will be able to detect high probability reversals setups.

The Support/Resistance MTF indicator is one of the key elements to detect my favorite setup type: Golden Setups!

The indicator detects so called “untouched” support and resistance price levels which nearly always produce a sharp reversal once the untouched price level is reached.

Additional benefits with the indicator are:

  • detects support/resistance from higher time frames
  • you can configure how the support/resistance is detected

The following screenshot shows how the untouched support/resistance price levels are drawn (and how the price usually reacts at these levels):

With this indicator you will have an additional information advantage:

While you are searching on lower time frames like M30/H1 for entry opportunities you will see the major support / resistance price levels e.g. from the weekly time frame.

The following screenshot shows the configuration parameters of the indicator:

Tips:

  • For the trading systems which are presented on this website the weekly time frame is the best fit to draw support/resistance levels. The weekly time frame is the default setting
  • Place this indicator multiple times (2 – 3 times) on the price chart with different settings of the parameter candlesLeftRight. The parameter candlesLeftRight defines which recent highs/lows are detected. The default value for the parameter candlesLeftRight is 3. If you add the indicator a second time to the price chart with e.g. candlesLeftRight = 6 then you will probably see additional support/resistance levels. If you want then you can add the indicator a third time with e.g. candlesLeftRight = 9. You can play with the numbers and see the results.

To your success! And Happy trading! 

Specification: Support Resistance MTF Indicator 1.2

Product Type

Technical Indicator

Condition

Unlocked

Trading Terminal

Metatrader 4

User Reviews

0.0 out of 5
0
0
0
0
0
Write a review

There are no reviews yet.

Be the first to review “Support Resistance MTF Indicator 1.2”

\indicators\PTS_SuppRes_MTF.ex4

Support Resistance MTF Indicator 1.2
Support Resistance MTF Indicator 1.2
ForexShop
Logo
Shopping cart