Tired of plotting support and resistance lines? The Support Resistance is a multi-timeframe indicator that auto-detects and plots supports and resistance lines in the chart with a very interesting twist: as price levels are tested over time and its importance raises, the lines become thicker and darker. Past and present price levels are collapsed by proximity and adjusted to the how to find support and resistance in forex market action. Lines are drawn where the action is and not necessarily at the peaks.
Enhance your trading activity with the best and most complete Support and Resistance auto-detection indicator, just like our customers have already done. A brief introduction Resistance and support lines are price levels which temporarily halt or reverse the continuous movement of the trend. Conversely, during a bullish trend, the price level where buyers are checked is called a resistance line. How are support and resistance levels created? When a dealer enters a buy order, the broker has the order filled by executing as many offers as possible until the amount the customer desires is reached.
If the original order is a large market order, the broker will keep climbing on the price ladder until the order is fulfilled. Support and resistance points are created when the total orders in the market are not enough to clear the offers at a particular price level. Since many participants expect a price level to resist or support the quote, that price level will act in the anticipated manner regardless of what the other variables suggest. In a sense, technical analysts claim that traders behave like pack animals. Why support and resistance levels work Emotionally charged events are remembered better and have a stronger impact in human behavior. The market causes joy or trauma to its participants and this is why support and resistance lines work. But there are a few more reasons.