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Surprisingly Good Support & Resistance Indicator

indicator support and resistance s&r

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207 replies to this topic

#1 David

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Posted 06 August 2014 - 07:36 AM

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I'm not sure if anyone else has given this support and resistance indicator a try, but this has been looking very nice.  A lot of these lines have been dead on from my testing. Downloads are below for those of you who want to try it.

 

y6uN3yY.png

 

MQ4 File - Attached File  Support and Resistance # TLB OC v02.mq4   18.21KB   8476 downloads

 

EX4 File - Attached File  Support and Resistance # TLB OC v02.ex4   40.58KB   5799 downloads


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#2 rommark

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Posted 06 August 2014 - 04:33 PM

Thanks man!


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#3 swede

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Posted 06 August 2014 - 05:31 PM

Finally, a support/resistance indicator that uses closing prices......with all the significant time frames on one chart....thanks for posting that David...very useful indeed...


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#4 David

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Posted 06 August 2014 - 09:17 PM

No problem!  Couldn't pass up posting this for everyone as I've not seen any other S&R indicators like it that were this good.


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#5 swede

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Posted 07 August 2014 - 10:55 AM

See post 204 from this late NY session in the "introduction to Ichimoku" thread.....


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#6 BryanMac

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Posted 07 August 2014 - 02:32 PM

I threw it on my ichi charts also I like it a lot.



#7 Rustyh6281

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Posted 07 August 2014 - 02:46 PM

Three big players supporting this ... must be worth its salt!



#8 atcsd

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Posted 09 August 2014 - 08:31 AM

thank u 



#9 johnjacob

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Posted 09 August 2014 - 11:49 AM

i think almost every strategy or all here at BOE will work if apply the s&r david provide..thats what every strategy was missing a good s&r indi..thanks david


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#10 hmrukltd

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Posted 10 August 2014 - 03:54 AM

@David I tried this indicator on friday and I must say for those that find it hard spotting and drawing your s/r levels manually this right here saves you all the hardwork, it's simply brilliant. People do not ignore this is a GREAT share David.


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#11 vulcan

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Posted 10 August 2014 - 06:38 AM

@David…what website did you find indicator from , please



#12 alan

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Posted 10 August 2014 - 07:34 PM

how to use this indicator?

 

what are the different line types and time frames on them means?

 

which ones are stronger signals?

 

David: but now that you shared this indicator, this will quickly gets saturated and become ineffective. 



#13 oakman

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Posted 10 August 2014 - 10:22 PM

In reference to the last part of your post Allen. Don't worry.That would be basically impossible.



#14 marklee

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Posted 10 August 2014 - 10:43 PM

I know the TLB stand for three line break.. not sure what the OC stand for im guessing open close..lol.. I guess price suppose to break 3 support line on a downtrend and then take a call on the bounce off of the 3rd support line..vice versa if its an uptrend..not sure though.

#15 johnjacob

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Posted 11 August 2014 - 10:37 AM

here's a horizontal line with alert to help you guys who have multiple charts open ... just place it on top of the s&r indicator. if you want to have two or more H Line on your chart just change the number on the myline1 to myline2 and so on ..

 

 

 

 

Attached File  HLine Alert.ex4   5.43KB   953 downloads

 

Attached File  HLine Alert.mq4   1.72KB   1019 downloads

 

 

 


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#16 alan

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Posted 12 August 2014 - 08:15 AM

david: help us. we know that you are a wealthy person. $1000 or $10000 is like a pocket money for you. please help us to earn a few dollars a day at least.

 

dont ignore us like this. 



#17 BryanMac

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Posted 12 August 2014 - 08:30 AM

david: help us. we know that you are a wealthy person. $1000 or $10000 is like a pocket money for you. please help us to earn a few dollars a day at least.

 

dont ignore us like this. 

As support and resist is a fundamental skill when trading i would suggest starting with the below info, there is no secret to it it is just understanding the concept.

 

And I dont think you were being ignored, its just that S/R is such a basic concept and one of the 1st you should learn as it compliments every part of trading.   

 

http://www.babypips....resistance.html

 

 


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#18 acuter

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Posted 12 August 2014 - 01:59 PM

 Go  to  urbanforex.com ,  and  click  on  Pip  Milking  , ( AKA " Milky" ) , for  the  basic  pattern  strategy .

 

It  is  ALL   you   will  need  to  determine  objective   Support / Resistance  . Switch  to  a  LINE  chart ,  and  watch  for ascending   

 

letter  M  shapes  , and  descending   letter  W  shapes . It  takes  a  bit  of  patience  , and  practice  to  discern  some  of  the

 

 irregular  letter  shaped  patterns  , but  it  is  time  well  spent  . " Milky "   does  not  require  any  indicators  ;  and ,  it  works

 

 like a  charm .


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#19 Rustyh6281

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Posted 12 August 2014 - 05:06 PM

Ha ha ... Acuter banging his Milky drum! :)

 

It does work though ... so keep banging!


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#20 swede

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Posted 12 August 2014 - 08:38 PM

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all i want is just a reliable system with indicators that tells me when i buy and sell. thats it.

 

is there any such system that is profitable?

 

so far i cant find any profitable system.

That my friend is all anyone wants....but I suspect you want it handed to you on a platter, without any research, without any study, without any education, without any effort on your part...you want to have a message or alert to tell you when to buy and sell.......

 

..I sure hope you are not investing any real money in trading at this point.  Why not take one month, read everything there is to read on trading, then come back and ask some intelligent questions....and they should not include "what is support/resistance?"  There are many profitable traders in these rooms....but it took some of them years to get profitable and there are no easy solutions.....


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