Mastering Support and Resistance Lines: A Handy Indicator for MetaTrader 4

Mike 2013.09.18 16:13 40 0 0
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Isotope

Are you looking for a straightforward way to identify key support and resistance levels in your trading? This handy indicator does just that! It displays simple support and resistance lines that can help you make informed trading decisions.

This tool shines especially in ranging markets, providing you with clear levels to watch as prices bounce between them. But a word of caution: these two lines are based only on the current bar, which means they will adjust when the next bar forms.

You can use this indicator across any timeframe, making it versatile for different trading strategies.

EURUSD 1H - before EURUSD 1H - after

Recommendations:

  • This indicator is particularly effective in ranging markets.
  • As always, use it as a standard part of your trading toolkit.
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