Morning all does anyone know of a S/R indicator for MT4, Fib and S/R are still tough concepts for me to grasp whilst attempting to design my own trading strategy.
Right now I just use Stoch and PA which for me seems to be a good combination but i think S/R would improve my trading a good deal.
Thanks in advance
Drew
You’ll need two things. Your eyes and a Horizontal Line.
Support and Resistance lines are fairly visible in the markets. Pull up any chart from any time frame and pan through it a bit. Do you notice those areas that price bounces from? Those are your areas of support and resistance. Plot your horizontal line along those areas and you’ll be all set.
Quite simple indeed.
I find that it helps to plot S/R on either a line or bar chart. Also draw S/R on higher TF’s for bigger picture
In addition to what the other babypippers have said, you can consider what I think I tried to tell you in the chat room a couple days ago, which is the Ichimoku Kumo cloud as S/R.
Other possibilities for S/R: Pivot Points (apparently, institutional traders swear by this), Fibs, and Bollinger Bands (Standard deviations can be thought of as S/R, even though, fundamentally, they are not).
hehehe thanks this_barb, I got a 2mb pdf about ichimoku i will get reading tonight. It seems like a good indicator.
Hopefully i’ll catch more people in the chatroom its interesting.
Drew
Interesting thread, I’ve subscribed. I love the chat room feature - it saves me a lot of time and people are really friendly.
Best Regards,
Matt 
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