Support and Resistance indicator Mt4

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Support and Resistance indicator

Support and Resistance MetaTrader indicator MT4— as the name of this indicator suggests, it displays the support and resistance levels. It shows them directly on the chart, providing an easy help when you want to set stop-loss or take-profit level, or when you want to see the next market target.

Many traders also use trend lines and other technical indicators such as the RSI, slow stochastic, moving averages, and CCI to derive logical levels of support and resistance in a stock.

Defines the levels at which buyers and sellers step into a market or where the law of supply and demand come into play. Imbalances in supply and demand create support and resistance levels.

A few key points we want to mention regarding trading ranges. If a stock moves out of its support and resistance boundaries with heavy volume, you are possibly looking at a shift in the character of the stock. For example, if a stock moves up through the top of its range with heavy volume, it is indicating that the buyers were able to take hold of the stock and overpower the sellers at that level. This is bullish and the former resistance level should now be considered as support on a pullback.

 

It’s safe. You risk a small amount of money on every trade.

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Indicators :

Support and Resistance indicator Mt4

Template :

Support and Resistance indicator Mt4

[/tab] [tab]Download Now [/tab] [tab]Support and Resistance indicator 

Entry rules

1) Bе sure thаt thе market іѕ trending.
sl 15pips, target is 20pips breakeven when it is 15pips in profit

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