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SupportResistTrade

Topic: SupportResistTrade

A simple analysis of the market is performed before opening/closing a position, it determines the levels of support/resistance and the direction of the trend (bullish/bearish) as well.

The support/resistance levels are drawn by the last numBars bars.

The trend is identified using the Moving Avarage indicator (the period is set by the maPeriod parameter): if the price is above the MA then the trend is bearish, if it is below the MA then the trend is bullish.

If the trend is bullish then the position is opened at the break through of the resistance level.

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SupportResistTrade.mq4 4.51 kb, 23 downloads since 2014-10-26 

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2 (edited by zmf_559 10-29-14 04:08:21)

Re: SupportResistTrade

what is the time frame best use for this ea ?

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Re: SupportResistTrade

for which currency pair?

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Re: SupportResistTrade

i think its for USD/EUR currency pair but am not sure....

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Re: SupportResistTrade

is it working in high volatile market condition like news time.

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Re: SupportResistTrade

I think in this EA need some good time frame chart that best for this type EA, we can not understand trend in short time frame charts.

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Re: SupportResistTrade

how much amount we can earn with this ea for a month ? any body used this ? I need minimum 10% on deposit amount for a month, is it give that much profit ?

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Re: SupportResistTrade

Hi,

Is this an indicator or an ea?

If an ea, which pair and which timeframe are best to use this ea with?

How much profit % can it make per month consistently?

Any backtesting or forward-testing results?

Thanks for sharing.

James

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Re: SupportResistTrade

Hai traders... i am new for this site.... and looking to learn more about forex..

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Re: SupportResistTrade

thanks for sharing gay results are bit good but there are also problems in your ea its drawdown is high hope you will solve it

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