MT5 Support and Resistance

MT5 Support and Resistance Indicator

Automatic Drawing of Multiple Supports and Resistances with levels. 

Supports As follow

1.      Weak Support

2.      Untested Support

3.      Verified Support

4.      Proven Support

5.      Turncoat Support

Resistances As follow

1.      Weak Resistance

2.      Untested Resistance

3.      Verified Resistance

4.      Proven Resistance

5.      Turncoat Resistance

Best Strategy to use

1.      Identify Trend Direction on Daily Time Frame, Example Gold = Up trend

2.      Identify Support Zones at H1

3.      Switch to M15 Time Frame, and wait price to fall to H1 Support area, then start to bounce back up.

4.      Buy above the M15 Time Frame Support, place Stop loss right below the Support, and target the next Resistance level.

Combine with 5 Blocks

1.      Follow Previous instructions and use the Buy signals generated from out other product the 5 Blocks Indicator.

Assistance:

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