The indicator uses the construction method described by Vladislav Antonov (you can see his session reviews at Viak or Alpari). I failed to find such an indicator in the internet, so I decided to create it by myself. Below is a short extract from his description:
I shouldn’t explain you what support and resistance are. There are many methods to detect price levels. Txawm li cas los, I apply my own calculations. The dynamic support/resistance lines are determined by MA lines, whereas the static ones are calculated on the basis of a larger timeframe.
1. To calculate intraday levels for one hour, you should take High, Low and Close values from the preceding one-hour candlestick.
2. To calculate intraday levels for one day, you should take High, Low and Close values from the preceding one-day candlestick.
3. To calculate intraday levels for one week, you should take High, Low and Close values from the preceding one-week candlestick.
In my review, I calculate the price levels of support/resistance on the basis of the one-day candlestick of the preceding day. Yog li, the price levels will be valid all day long, but we should recalculate them the next day. Piv txwv li, if we take a one-day candlestick 02.11.06: High = 1.2786 Low = 1.2736 Close = 1.2780 and obtain the levels for the current day and use them on all charts for the timeframes smaller than one-day timeframe. On the next day, we will have to calculate the new levels.
muaj 3 calculation methods according to the size of the preceding candlestick:
Reduced – support/resistance levels for a weak market. If the market was closed with a large candlestick of more than 200 ntsiab lus, it is better to use this method, since a correction is expected, so the market will be flat.
Normal – support/resistance levels for a market with average volatility. Daily candlesticks range from 100 rau 200 ntsiab lus. Normal method is good in use when a stable growth or sinking is being observed, candlesticks being approximately of the same size.
Extended (Расширенный) – support/resistance levels for a volatile market. Црут the market shrinks into a triangle and becomes flat, we expect a strong movement to start soon and use the levels with an expanded price range. What method should be applied here, this depends on your own research and level statistics collected. As to me, I don’t keep up with the items described above (this is averagely for the pound). So far, I choose methods guided by my intuition and by the expected price pattern.
For those who want to read about this in more details, see: http://www.viac.ru/ds/21950
MT4 Indicators – Download lus qhiaTheem – ntsuas no yog qhov ib tug Metatrader 4 (MT4) qhia thiab cov essence ntawm lub forex qhia yog txia sau keeb kwm ntaub ntawv. Theem – qhia qhia rau ib lub sij hawm los xyuas ntau yam peculiarities thiab cov qauv nyob rau hauv nqe puab uas yog pom tsis tau cov liab qab qhov muag.
Raws li nyob rau hauv cov ntaub ntawv no, traders yuav xav ntxiv nqi zog thiab kho lawv lub tswv yim raws li.
How to install Levels – indicator.mq4?
- Download Levels – indicator.mq4
- Copy Levels – indicator.mq4 rau koj Metatrader Directory / kws txawj / ntsuas /
- Pib los yog pib dua koj Metatrader Client
- Xaiv Daim ntawv thiab sij hawm uas koj xav ntsuam xyuas koj qhia
- Nrhiav “Kev cai Indicators” nyob rau hauv koj lub Navigator feem ntau tshuav nyob rau hauv koj Metatrader Client
- Right click on Levels – indicator.mq4
- Muab mus rau ib tug daim ntawv
- Hloov chaw los yog xovxwm ok
- Indicator Levels – indicator.mq4 yog muaj nyob rau ntawm koj daim ntawv
How to remove Levels – indicator.mq4 los ntawm koj Metatrader 4 Daim ntawv?
- Xaiv lub Daim ntawv qhov twg yog qhov qhia khiav nyob rau hauv koj Metatrader Client
- Txoj cai nias rau hauv lub Daim ntawv
- “Indicators daim ntawv teev”
- Xaiv lub Qhia thiab rho tawm
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