Precision Support Resistance MT4
Support and resistance – important price levels on the intraday market. These levels are usually tested price, after which it continues to move, or lead to a reversal of the trend. For experienced traders the exact definition of support / resistance levels is difficult to overestimate. many popular trading strategies are built on their basis (for example, trade on the breakout / bounce). Precision Support and Resistance for professional traders. In addition to accurately determine the levels of S / R, the indicator has a number of additional features: spark detection for decision making, internal plugs for calculating probability analysis reversals (Pivot) and staircase strategy (Ladder). Each of these tools can be turned on / off.
1. Support and Resistance
To calculate the support / resistance levels used density and geometry. The accuracy of the determination of levels depends on the breakout force or rebound.
2. Recognition of candles to make decisions
candles recognition module informs the trader about a possible strong movement. Key candle is usually appears in front of a strong reversal or a continuation of the strong current trend. You need to be especially careful if the price is at an important level of support / resistance.
3. Calculation of the internal candles (Intra)
Candles Intra – statistical prediction of the future closing price ranges within the predictable future. Displaying levels of 1%, 5%, 10%, 32%, 50%, 80%. The indicator plots a couple of lines above and below the opening price of the current candle. The probability of 50% means that the chance of the closing price of the bar is – 50% of the opening price of the candle. You can accurately estimate when the price touches the support / resistance level, moving average, Bollinger bands, etc.
4. Analysis of reversals (Pivot)
In the indicator turns using standard analytical methods. Analysis of turns used for two purposes. First, the levels can be used to turn a double confirmation of support and resistance levels. Secondly, they can be used to confirm the approximate trend. For example, the price closed yesterday between the S1 and the S2, then it is possible to judge the falling trend. Built-in analysis reveals only turns fluorescent U-turns, to display, you can choose the number of days required.
5. Strategy ladder (Ladder)
ladder strategy answers the question, what is the probability that the price will be closed for a certain level. For example, you believe that the level of 1.2400 is important, and you want to find out what are the chances that the price closes above this important level. Use a ladder strategy to calculate the probability.
The default settings are suitable for most characters and timeframes. It recommended that you use them. The process of changing parameters is simple and self-explanatory.
You can use the Precision Support Resistance as a self-contained instrument for trading on the break or bounce. The indicator can be used on any timeframe with different levels of performance. You can also use the products listed below, but only after the development of Precision Support Resistance.
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