Support for Resistance Traders - MetaTrader 4 Expert | Forex Indicators Download - MT4/MT5 Resources
A trading algorithm that supports the resistance trader requires : (1) a minimum value of the standard deviation indicator; (2) a break of the SMA of the lowest (sell) or highest (buy) price above the support line (sell) or resistance line (buy).
ADX and Bollinger Bands indicator values are also used as additional indicator trade entry filters. Open trade reversals can be closed based on trading signals. The ZigZag indicator built-in function is used to determine the length of the furthest distance from the nearest ZigZag segment. This is used to support calculation of values at the beginning of support and resistance segments. This EA uses the H1 EURUSD chart and was tested from January 2010 to June 2019.
Attachment download
📎 suppreszztrader.mq4 (65.98 KB)
Source: MQL5 #25848
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