Thread: Support and Resistance EA

HI,

Whats the meaning of scissors.? Does this indicator repaints ? Which time frame is best to trade using this indicator?

I can not load delivered to experiment a little bit. bononza88@gmail.com

The scissors mean get ready for minor or major reverse. Close your trade and take your profit. Wait until the indicator forms new support/resistance. Try M15, M30, H1 and H4. I preferred H4. You can try with Renko chart too with other filters.

Hi Bocahfx,

What does the EA TRAP STABIL V2 work? How does it explain how the Support and resistance Ea posted above works?

Originally Posted by gemroy

Hey guys! I'm using this SupportResistance.ex4 indicator for a long time manually with a very good profit.

Do you guys have any idea how to transform this to EA?

Attachment 26898

please i need some guide on how you trade with the support and resistance indicator

and have you gotten the EA on it?

This is an old thread but interesting to me!

I saw this indi on some youtube video and was long looking for it... finally found it.

I think it is a great support resistance indicator, true it repaints (sometimes heavily) but can still be very profitable. I am manually trading this one because I have no idea on how to put it to work from within an EA.
I am using it along with 4EMA and 6EMA.
Trading strategy:
- Following a Resistance, I will short cross down of the EMA until the scissor shows or a new support form. Stop will be the highest point of the last 10 bars.
- Long is just the opposite.

If any coder is interested in putting together an EA and share it would be really awesome. Some money management strategy should be in place as well.

Cheers!
- pete