Best Support and Resistance Indicator.

[sadscorpion 10]

For succesful traders the support and resistance is very important. The best availbe indicator to determine support and resistance on charts is "support and resistance (barry)".

the easy way to draw support and resistance. For best results use bigger time frames like H1 and H4.

Support and Resistance (Barry).mq4

[arjfca 10]

Hello

 

Is this indicator is for TradeStation? I'm using Multicharts (EasyLanguage compatible) and I don't recognize your MQ4 file.

 

Have a good day

 

Martin

[arjfca 10]

Hello

 

Is this indicator is for TradeStation? I'm using Multicharts (EasyLanguage compatible) and I don't recognize your MQ4 file.

 

Have a good day

 

Martin

[sadscorpion 10]

this is mt4 indicator ..

[traderfred 10]

There are many ideas about support and resistance indicators... depending on the platforms you trade on...

 

The ones I like best and use are:

 

APA Zones (dynamic supply and demand zones) on NT, TS, and MT4

 

anaPivotZones (support resistance lines) on NT platform

[Niko 10]

Wrong thread, sorry.

[aaa 10]

Hi SadScorpion

 

IMO choosing highs & lows are fragile & risky support/resistance Bcoz they are out of range, or in an Xtrm volatility zone (like spikes) ;

they are tests 2 find a compromise accepted by all... or a possible break out !!!

 

Who knows ?

 

Who will take care of irrationnality and base their decision on it ?

 

***********************

 

But the moment when big hands Xchange there contracts in a range, identified by volumes, is a very interesting zone of support/resistance lines.

 

Bcoz When Prices moves with a (good ;=)) signal, contrarian traders + scalpers moves back price to these lines, and they Bcome very secure points of entry in the identified trend.

 

Then, last support/resistance lines starts 2 B a secure take profit zone or, if it is a BreakOut, leaving time 2 the trend 2 develop itself until new support/resistance lines appears 2 sold the position.

 

aaa

 

Edited February 9, 2013 by aaa

[johnnydaymon 11]

Nice indicator but it's done by TRO too! Only a hundred years ago! TRO coded it to MQ4,TS, Esignal,Multi Charts and so on. http://www.traderslaboratory.com/forums/trading-markets/4859-never-lose-again-therumpledone.html

Edited March 2, 2013 by johnnydaymon

[johnnydaymon 11]

Seems there is but yet another version here also; http://www.traderslaboratory.com/forums/trading-indicators/10265-support-resistance-auto-plots.html

[aaa 10]

Hi Johnny

 

ThanX 4 the interesting TRO links.

 

Why and when a price become 2 B a Support or a Resistance, is that the question ?

 

My graph is not based on High & Low Elliott Fibo retracements, even tho it looks like this.

 

Learn How to Apply Fibonacci Retracements to Your Trading | Elliott Wave International

 

but rather a full strategy based on identified zones of price/Volume/Time ( POC) Support/Resistance.

 

Volume by Price - ChartSchool - StockCharts.com

Edited March 2, 2013 by aaa

[AndrewJackson 10]

Thanks for the links aaaaa!

[johnnydaymon 11]

Thank you aaa for the links! Good trading to you.

[aaa 10]

.................

:=)

[davidfry 10]

Thank you very much for this code

[aaa 10]

nota bene

 

 

Volume by Price bars prices should be watched as potential support/resistance during a pullback.

 

it is important to understand how Volume by Price works.

 

Current Volume by Price bars should not be used to validate past support or resistance levels because the indicator is based on all the price-volume data shown on the chart.

 

This means six months of data for a chart that extends from January to June.

It may appear as Volume by Price identified support in March, but keep in mind that the indicator data extends well beyond March, which is essentially the future.

 

To effectively identify support or resistance in March, the chart needs to end at or before March, not after March !!!

 

 

For this reason we need to draw FIXED lines at EACH identified POC.

 

Then, we will use these identified estimated different sup/res lines in the near future time axis to open a position in an eventual pullback.

( secure entries and Take Profit Zone ( reversals ?) on the graph below).

 

Watching a moving POC (Point Of Control) in a "Market Profile" in a data playback mode will illustrate well this moving concept.

 

aaa

 

Edited March 31, 2013 by aaa

[natureboy1618 10]

SR.. There's that newer volatility based S/R. I like swings and Fib clusters.. The best/most reliable is a special case - a lot of you have seen it - where price is moving in a channel (i notice it particularly in bear channels) and price will come up to the resistance TL.. often couples with candles, momentum signals, even cycles. That's probably the best trade, just not terribly frequent.

 

Generally... s/r for me is TL s/r. INDICATOR. Ah, right. In the indicator case... i hear market profile is worth looking at?? Maybe getting some order book numbers archived and correlated to prices over time?

[doubletop11 10]

There are many ideas about support and resistance indicators... depending on the platforms you trade on...

 

The ones I like best and use are:

 

APA Zones (dynamic supply and demand zones) on NT, TS, and MT4

 

Yeah, I like it too. It's good for S/R on the small timeframes and supply/demand on the larger ones. The thing that I think is the best is the fact that it gives you the area where the turn is expected. The market is dynamic and we have to be dynamic. Price doesn't always turn on a line but making it an area really turned my trading around. They even have trading plans and videos from other traders then the creator. I just think that's really cool.

[reez 10]

Hello,

 

Please help me to create sound alert for this indicator.

I have tried following online tutorial but it didn't work. :crap:

 

Thank you very much.

[tradelab03 10]

Support and Resistance MetaTrader indicator — 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. This indicator uses the standard MetaTrader Fractals indicator (by Bill Williams' method) and has no changeable input parameters. This indicator is available for MetaTrader version 4 and 5.