How to trade with KG_Support_and_Resistance.mq4
This multi-timeframe indicator automatically draws Support and Resistance levels for:
- Daily (D1) in red,
- 4 hour (H4) in blue,
- 1 hour (H1) in green,
- and 15 min (M15) time frames in yellow.
- Daily (D1) in red,
- 4 hour (H4) in blue,
- 1 hour (H1) in green,
- and 15 min (M15) time frames in yellow.
On the 15 min USDCAD chart above the Daily resistance is held beautifully, even though we have a small spike through the level (around 6.5 pips).
We'll talk about S&R more our general topics, but you should note here, that Support and Resistance are not the exact price levels, but rather areas of 10-20 or more pips, where the action occur.Therefore, the spike through the red D1 line doesn't mean that the D1 Resistance has been broken at that point, but rather quite the opposite - the D1 resistance held well upon the test.downlond http://www.mediafire.com/?ux04ljmtebd4k5l email forex_utara@yahoo.com for password