MT4 indicator (KG_Support_and_Resistance.mq4)
Download indicator: KG_Support_and_Resistance.mq4
How to trade with KG_Support_and_Resistance.mq4
This multi-timeframe indicator automatically draws Support and Resistance levels for:
On the 15 min USDCAD chart above the Daily resistance is held beautifully, even though we have a small spike through the level (around 6.5 pips).
We'll talk about S&R more our general topics, but you should note here, that Support and Resistance are not the exact price levels, but rather areas of 10-20 or more pips, where the action occur.
Settings for KG_Support_and_Resistance.mq4
To remove/hide any of the SR lines, change the color of the lines to match your chart background color, as shown on the screenshot below:
Copyright © Forex-indicators.net