Is there a platform or broker or a “feed” that I can connect to that allows me to plot support and resistance? Or is that something I have to draw / figure out manually myself?
Disclaimer: I am brand new (if you didn’t figure out from newbie question).
Sanjay
There are both indicators/programs that will draw all manner of S/R lines. I prefer to draw them myself so that I have a better feel for the markets. This has an interesting side effect. Over the years I have got to the point where I do not need to draw them anymore. I can just pick them out by looking at the chart. Whichever method you use the important thing is that you understand what they are telling you. They do not indicate entries. They indicate areas of interest.
Search for a free platform called MT4, or MT5 - you may also like the look of cTrader; either way all three are ‘retail’ user friendly. This will allow you to connect to real time data feeds and you can draw S/R lines until your hearts content.
I did download MT4 and have been exploring that a little bit… I created a demo account with forex.com looking at the comments on here… so I don’t know how to connect MT4 to Forex.com account so I can use MT4 functionality…
if you already have MT4 then you just need to log into one of forex.com’s servers. The site should be able to explain how to log in
You probably got a username and created a password when you registered. I think the verification email should mention which server (broker’s server) you need to log in. Every step should be there in the email.
Hi @sa02000,
FOREX.com lets you choose from multiple trading platforms including MT4. Make sure your demo account is set up for MT4 by requesting login details using this form: https://on.forex.com/MT4demo
The email you receive will include links to both the desktop (for PC users) and web (for Mac, Linux and public computer users) versions of our MT4 platform so you can connect to our servers.
If you ever have questions about FOREX.com, you are welcome to reach out to us in the Broker Support section of BabyPips: FOREX.com discussion
Traderjohnsblog
If you do a search for Support and Resistance Indicator for MT4, you will find many addresses of indicators you can download! I found one that highlights the areas of support with blue dots and the areas of resistance with red dots. This is only a suggestion and you can ignore it or follow through. I feel if someone took the time to make things easier for you, why not!