Hi, Which free charts are best to use for drawing support & resistance...?

Beginner Questions
1

Hi there!

I’m newish…and just getting to the support and resistance stage where I need to draw my lines on charts…

I’m not sure if I should use my (Oanda) broker charts or should I use other charts in order to draw in all my support and resistance lines…

Any advice would be really appreciated;)

Thanks guys,

Tania
Sus***, U.K

2

Hi,

You can draw support and resistance line from any platform / charting software , but if your broker is OANDA then use their platform to draw the chart, it is a good practice to know your broker platform properly. It will not make any difference whichever platform you use.

3

I like that advice. Plus, the price feed from one dealer differs from another for many reasons. If you compare, you may find yourself placing entries and exits at different levels on two different data feeds. One dealer may show a new high while another shows a near miss. At least be advised of your dealer’s data.

-Adrian

4

There are many charts that traders use to determine support and resistance. Both free and paid versions; I use free charts to plot support and resistance on the MT4 platform on Profiforex; but the best so far is MACD, Moving Average.

5

I would try a couple different platforms and see which one u like but remember platform 1 price might not be same as platform 2.

6

Thank you very much for your reply - I will check them both out.
Much appreciated,
Tania

7

Hi 3xfx,
Sorry lost the last one. Thanks alot for the info I will try a couple of platforms.
Cheers, Tania

8

Hi Sharebazar,

I see. That’s really helpful. I keep seeing traders with all their many professional charts up infront of them… Much easier for me to use my own platform. The only problem is that I can never see back far enough … but there must be a way to go back 6 mths-1 year for example. Which [B]timeframe[/B] is best for you when you setting up support and resistance , if you don’t mind me asking?

Thank you so much for your assistance! - Much appreciated.

Tania, UK

9

O.k I understand, I will use my Oanda charts then.
Thank you!!

10

Hi

Check your platform,you can adjust how many days/month/year data you want see in your chart. As you can find support and resistance in any time frame but it is good to stick with higher time frame like weekly/ daily because most of the trader are giving more importance in higher TF SnR.

Please check the babypips school support and resistance post you will get a clear picture.

11

I think there is no relationship between using certain broker and drawing the lines (support and resistance lines) because you can draw it in the different broker but the place won’t be much different. If you don’t like to calculate pivot points and any other calculation so you could use indicators to show daily support and resistance point. It will be easier than determining manually.

12

yeah as long as the chart is accurate i guess, any would do. and best of luck.

13

Ok excellent thanks very much - I understand now and will have a look to at the babypips tutorial.
THANK YOU!
Best regards,
Tania