Support Resistance Indicator with Risk Management
Support and resistance are an important concepts in technical analysis that help traders identify price levels where the market is likely to change direction or consolidating. Support is a level where the price tends to bounce back from a downtrend, while resistance is a level where the price tends to fall back from an uptrend. These levels are not exact numbers, but rather zones where supply and demand are in equilibrium.
One way to plot support and resistance levels on a chart is to use trendlines. Trendlines connect the highs or lows of a price movement. More precisely, support and resistance are drawn by connecting peaks and troughs in the chart. Another way to plot support and resistance levels on a chart is to use Moving Average. Moving averages show the average price over a certain period of time. Both of these tools can act as the support and resistance levels.
Technically, if you want to use the support and resistance line that are alinged with Fractal Pattern or Fractal Wave, we recommend using the peak trough anlaysis to draw the support and resistance. Peak trough analysis is the best indicator to identify the important support and resistance. We developed the Peak Trough Analysis indicator and We provide the peak trough analysis for free for every one.
https://algotrading-investment.com/2019/08/29/how-to-download-peak-trough-analysis-tool/
In addition, in this book, you can find out how to draw support and resistance using the Peak Trough Analsyis plus many other trading strategy is available to help your Forex Trading.
We provide the Support Resistance Indicator that are cost effective and highly accurate using the original concept of the Trigger Level. This Support Resistance Indicator provide the automatic peak trough analysis which you can directly connect the best support and resistance level in the most sensible place. Remember picking the good support and resistance followed by good profit results. In addition, this support resistance indicator helps you to managment your risk for your trading. You can add the risk management object with number keys 1, 2, 3 and 4. You can start to trade like Pro. Find out more information about the Support Resistance Indicator for MetaTrader.
Use this Support Resistance Risk Management together with Peak Trough Analysis Tool (Free) to maximize your trading performance.
Support Resistance Risk Management MT4 for MetaTrader 4: https://www.mql5.com/en/market/product/77887
Support Resistance Risk Management MT5 for MetaTrader 5: https://www.mql5.com/en/market/product/77886
Landng Page for Support Resistance Indicator: https://algotrading-investment.com/portfolio-item/support-resistance-risk-management/
In addition, you can read the detailed article about Support and Resistance Indicator.
https://www.mql5.com/en/blogs/post/747933
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