The magic in price action with Japanese candlesticks is that it tells you exactly what is happening at the moment and from there, you can tell if the support or resistance level is going to hold.

I recommend you read our super in-depth article on our candlestick pattern indicator along with what goes into calculating the perfect bullish and bearish reversal patterns. What this means is that sometimes, it looks like the support level is not going to hold looks like it is going to get broken.

Price might have reached it and broke through it — at this point, you would be forgiven to think that the support level you found is not working. However, before the bar is completed, you notice that price forms a bullish hammer candlestick pattern. This is a very strong price action sign of a bullish bounce that could be happening,. So, what happens to your support level now? Previously, you thought it was going to be broken because of how price just broke past it.

However, because of the recent price action formation, you instead have increased confidence that your support level is strong and you can play a bounce from here. Desmond is your average trader. He started off blowing up 7 or more.. lost count accounts amounting to more than k, tested over 30 Expert Advisors EAs to no success and spent over 10k on stupid useless courses. Today he runs an award winning trading team and provides market analysis and webinars to some of the largest brokers such as IC Markets, XM, Axi, Tickmill, FXCM, VantageFX, easyMarkets and more.

He now has a simple goal: Creating an army of traders who trade profitably together and keep each other accountable. Guiding them with the most comprehensive no-BS free tutorials so that no one ever needs to go through the pain he went through himself to become a profitable trader. Here is how I turned from blowing up 7 accounts to finally being a profitable trader. I did these webinars for various brokers. They contain everything you need to succeed in trading:.

All rights reserved. All other trademarks appearing on this Website are the property of their respective owners. Past performance is not an indication of future results. In this case, as well, the high degree of leverage can act both against you and for you.

Before you decide to invest in foreign exchange, you should carefully assess your investment objectives, experience, financial possibilities and willingness to take risks. There is a possibility that you will lose your initial investment partially or completely. Therefore, you should not invest any funds that you cannot afford to completely lose in a worst-case scenario. You should also be aware of all the risks associated with foreign exchange trading and contact an independent financial advisor in case of doubt.

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.

Leverage enables traders, using a relatively small amount of money, to take a position that is many times the initial investment. This leverage effect can work both in your favour and to your detriment. The Forex market opens up the possibility to utilize this leverage effect to a high degree; at the same time, however, it also opens up the risk of experiencing high losses. Please trade with caution when you use leverage in trading or investing.

Your risk is particularly not limited to the initial investment, but can quickly fall into a negative range in the event of strong movements, meaning you may be obligated to pay far more than your initial wager.

Skip to content. TFA Trading Guides. How To Draw A Fibonacci Retracement Correctly. The ultimate guide to using this amazing tool We do a deep dive into learning how to harness the power of the Fibonacci retracement tool to derive Fibonacci retracements, expansions and extensions.

MT4 Trade Manager Installation Guide. Guide to using our amazing trade manager A simple guide to using our Ultimate MT4 Trade Manager. Covers all the installation instructions, commonly asked questions and potential error codes you might encounter. MT4 Support and Resistance Installation Guide. Guide to installing and getting the most out of our support and resistance indicator!

We cover the ways you can tweak the indicator to get the most out of it along with an in-depth guide to installing the indicator properly. What is Programmatic recruitment? Lorem Ipsum has been the industry's standard dummy text ever since the s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. TFA Trading Tools. MT4 Trade Manager EA. Our ultimate trade manager designed for MT4. It'll help you manage your trades from entry, to stop loss, take profit, breakeven, partial profit, idea invalidation and more.

Awesome stuff! MT4 Support and Resistance Indicator. The strongest multi-timeframe up to 8 support and resistance indicator.

It helps you filter the best support and resistance levels to trade from. MT4 Candlestick Pattern Indicator. The most advanced MT4 candlestick pattern indicator that scans the chart for high probability setups. One of my most comprehensive tools. The MT4 True RSI Indicator helps you identify the hidden true levels of support and resistance on the RSI indicator.

Really great for calling reversals and avoiding false breakouts. MT4 True Stochastic. The MT4 True Stochastic indicator helps you identify the hidden true level of support and resistance on the stochastic indicator.

Really good for calling reversals. Why Premium? Complete coverage across all leading job sites Powered by industry-leading programmatic tech and data Comprehensive service provided by recruitment advertising experts. Free Trials. Download the MT4 Trade Manager EA. Works on AUDUSD, USDJPY, GBPUSD. Unlock the rest of the pairs with the Full Version. Download the MT4 Support and Resistance Indicator.

Unlock the other pairs with the Full Version. Download the MT4 True RSI Indicator. Works on all pairs showing RSI Unlock the other RSI settings with the Full Version.

Full Versions. Unlock the full power of the MT4 Support and Resistance Indicator to use it on all instruments. Unlock the full power of the MT4 Trade Manager EA to use it on all instruments. Unlock the full power of the MT4 Candlestick indicator to use it on all instruments.

MT4 True RSI Indicator. Unlock the full power of the MT4 True RSI Indicator to use it on 13, 21, 34, 55, 89 settings. Full MT4 True Stochastic Indicator. Unlock the full power of the MT4 True Stochastic Indicator to use it on 13, 21, 34, 55, 89 settings. The best Support and Resistance indicator for mt4 Finally, a multi-timeframe dynamic support and resistance indicator that helps you automatically identify strong zones to buy and sell from.

Toggle over 9 different time frames Overlap various time frames for stronger levels Smart filters for more accurate levels. Adjust the strength of each time frame One-click strict settings Individual settings for each time frame. Agenda for today: Support and Resistance Simplified Understanding Swing High and Swing Low Areas Identifying swing high and swing low areas on the indicator.

Pullback Resistance and Pullback Support Areas Identifying pullback support and resistance on the indicator Horizontal Overlap Support and Resistance Areas Identifying overlap support and resistance on the indicator Improving Your Support and Resistance strategy Accuracy Improving Your Accuracy with Fibonacci Retracements Improving Your Accuracy with Stochastic Improving Your Accuracy with RSI Improving Your Accuracy with Price Action Improving Your Accuracy with Correlation At the end of this topic, you should be well on your way to making seriously good money using support and resistance to trade.

Table of Contents. Do you have a video explaining everything? Watch this video as I go into how I use support and resistance in my trading strategy. Support and resistance simplified Back to basics my friend. It's important to know that support is always below price and resistance is always above price. Diagonal vs Horizontal Which is more accurate? Oleg Bakurov. Hello I have such an indicator. Oleg Bakurov : Hello I have such an indicator. Sergey Golubev.

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Something Interesting The thread about threads: Trading Systems Based on. You are missing trading opportunities:. Registration Log in. latin characters without spaces. Support and Resistance is among the most useful principles for any specialized buyer.

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Today finally, you now have a product to undertake most of the challenging meet your needs exactly — Dynamically.

It automatically spots the levels the price has actively interacted with before and draws them on the MT4 chart as rectangular areas. The price range height of support or resistance areas depends on the spread between price highs and lows that the level goes through.

There are many approaches to drawing support and resistance levels. For example, the Pivot Points indicator uses data from previous candlesticks for this purpose. Touch is a subjective concept since everyone interprets it in their way. Therefore, we used a freely available Fractal indicator to identify touches, which are also extreme levels of the price. The formula of the Fractal indicator works regardless of the timeframe, so the Support and Resistance indicator works on any timeframe as well.

After identifying and marking the touches, the indicator algorithm will spot the levels with the maximum number of price interactions and display them on the chart. To see the price interactions with a certain level, click the weight number on the left side of the rectangle. As you can see, some of the interactions are out of the filled rectangle, but this is not the indicator's error.

These touches are used to identify levels more precisely. Support and resistance are important price reference levels that help traders in making Forex trades. The indicator will be useful for experienced traders as well, as it saves time on drawing the levels.

You can find the description for each strategy in the following article — " Strategies of trading with support and resistance levels ".

You may also be interested in AutoTrendLines Indicator. It facilitates one of the most challenging tasks for a trader, which is the identification of the main trend. The indicator spots the accurate trend lines and automatically draws them on the chart. The window of the indicator's settings has several tabs. As a rule, you shouldn't have any difficulties with them. Color Scheme. By default, the indicator automatically detects the color scheme depending on the chart background.

If necessary, select the desired color scheme from the list. If you have any difficulties while installing the indicator, please view the detailed instruction.

The indicator will spot support and resistance levels with which the price has actively interacted before. How to Install. Product Info. System Requirements. Product Categories.

Indicators 22 Sentiment 9 Signal 6 Utilities 7. All-In-One Free. The indicator automatically draws important Pivot Points using the most popular methods: Classical Floor , Camarilla, Woodie and Fibonacci.

OrderBook Pro. Open trades and pending orders of retail traders are displayed as a two-sided histogram. StopLossClusters Pro. The indicator displays levels on the chart with the maximum volume of Stop Losses set by other market participants. TradingSessions Free. Shows the most significant trading sessions for the Forex market, such as London, New York, Tokyo, and Sydney.

Recommended Brokers Most Popular Trusted Low Spreads. Overview Reviews Download for MT4. Related Products. AutoTrendLines Free. The indicator automatically spots and displays trend lines on the chart. AutoTrendChannels Free. The indicator automatically detects the channel boundaries with the moving price and displays them on the chart. Better Volume Free. Custom Volume Indicator for MT4.

Crossover Free. Signal indicator based on triple exponential moving average. CurrentRatio Pro. What's Next? Learn basic Sentiment Strategy Setups.

MT4 Support and Resistance Installation Guide. He now has a simple goal: Creating an army of traders who trade profitably together and keep each other accountable. The ultimate guide to using this amazing tool We do a deep dive into learning how to harness the power of the Fibonacci retracement tool to derive Fibonacci retracements, expansions and extensions. Using Correlation to improve your accuracy Correlation is like combining multiple pieces of the jigsaw puzzle together to get a clearer picture of what the market is telling you. If we adjusted our swing sensitivity to something like 30, this would result in a lot more weaker lines appearing.

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