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How to Trade Forex Breakouts with Support and Resistance EA v1.02.mq4 1 on MetaTrader 4

"This indicator turned me into a profitable trader. Hands down the best support and resistance indicator in the market. I use it to scan for my major levels (with a bit of toggling) and pick out the major levels for me to take trades from. I do combine this with a few other tools like my trusty Stochastic and price action to snag really good trades. Love the multi-time frame feature and toggling of strength."

Support and Resistance EA v1.02.mq4 1


  • In Japanese, "ichimoku" translates to "one look," referring to the fact that support and resistance levels can be gauged in just a glance."}},"@type": "Question","name": "What Are the Tenkan Sen and Kijun Sen?","acceptedAnswer": "@type": "Answer","text": "The Japanese terminology for the moving average lines used in the Ichimoku cloud are called the Tenkan and Kijun Sen.The Tenkan Sen is the average of the highest high and the lowest low calculated over the previous nine periods.The Kijun Sen is the average of the highest high and the lowest low over the past 26 periods.","@type": "Question","name": "What Are the Senkou Spans Used in Ichimoku Clouds?","acceptedAnswer": "@type": "Answer","text": "The Senkou Spans form the "cloud" of the Ichimoku cloud. Senkou Span A takes the average of the Tenkan Sen and the Kijun Sen plotted 26 periods ahead of the current price action.Senkou Span B averages the highest high and the lowest low taken over the past 52 time periods and then plotted 26 periods ahead.","@type": "Question","name": "What Is the Chikou Span in Ichimoku Clouds?","acceptedAnswer": "@type": "Answer","text": "The Chikou Span is meant to measure market sentiment, using the most recent closing price and plotted 26 periods behind the price action."]}]}] EducationGeneralDictionary

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