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REGISTER PARTICIPANTS Indicator Support And Resistance Auto Mt4

Discussion in 'Technical Indicators MetaTrader 4' started by James Goldman, Nov 1, 2020.

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  1. James Goldman

    James Goldman Moderator
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    Support and Resistance Auto

    #supportandresistanceauto

    support-and-resistance-auto-logo-200x200-5784.png

    Automatic Support and Resistance levels
    The indicator displays the levels that are extremes for the specified time frames.

    • The resistance level is the maximum price of the last closed bar;
    • The support level is the minimum price of the last closed bar;
    2 operating modes:
    • Real bodies: open and close prices will be used;
    • Extremes: maximum and minimum price will be used;
    • helps to see potential reversal levels;
    • patterns formed near the levels have more potential;
    • when working on low time frames allows you to see the big picture;
    Settings:

    When loading the indicator, you will be presented with a set of options as input parameters.

    • TimeFrames: M5, M15, M30, H1, H4, D1, W1, MN; The indicator will display the levels of those timeframes that are marked true;
    • UseBodies: 1) if true: real bodies will be used (Open, Close); 2) if false: extreme values will be used (High, Low);
    • LineColors: the color of lines and labels for each time frame;
    • LinesAsBackground: if (true): draw lines in the background;
    • LineStyle: line style (solid/dotted...)
    • FontSize: font size of labels;

    support-and-resistance-auto-screen-1247.jpg

     

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