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How to draw support & resistance line

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  • #16
    Re: How to accurately draw support & resistance line ???

    Connect the dots, highs to highs and low lto lows, look at other chartists and see hwo they do it

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    • #17
      Re: How to draw trendlines

      Originally posted by egi1610
      I have been looking for advice on how to draw properly trendlines.
      What is 'normally' taken? High/Low or Close?

      How 'sharp' would you normally draw the line, what delat would you allow it to brake and reverse to still count the line as 'valid'?
      Hey as usual any advice is appreciated!
      EGI1610

      hello egi1610

      try to use this indicator, maybe it can help u

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      • #18
        Re: How to draw trendlines

        Hi Ibdafx,
        I am not able to download the indicator.
        COuld you either share via fileplatform and post the link here or send me a PM so I can give you my private email adi?
        many thks
        EGI1610

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        • #19
          Re: How to draw trendlines

          you can try the video ....

          [youtube:e8tczv25][/youtube:e8tczv25]

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          • #20
            Re: How to draw trendlines

            This is the first material on that time I have...very tought and hard to coz different language



            Code:
            hxxp://w@@ww.4shar@ed.c@om/file/124057705/55e6c2fe/Td_online.html

            Comment


            • #21
              Re: How to draw trendlines

              Hi,

              there are a lots of different points of view.

              Some ta's use a line chart so you just have the close - others try to brew their own beer.

              Try to find your own way on chart reading and run it on your favourite software

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              • #22
                Re: How to accurately draw support & resistance line ???

                Wyckoff theory suggests Horizontal lines for Support & resistance.Once you master that try Slant trendlines joining bottoms or connecting two tops.Afterwards you can try with patterns

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                • #23
                  Re: How to draw trendlines

                  Hi,
                  I came across this "selfmade" AutoTrendline MT4 indicator on another forum

                  "SelfMAde MT4 Indicator for Auto Trend Lines.
                  Indictor calculate the waves (impulses) and then pivot points.
                  This indicator don't use any ZigZag algoritm."


                  Hope I am not duplicating posts and hope this is useful.

                  Comment


                  • #24
                    Re: How to accurately draw support & resistance line ???

                    i like to think of Price patterns as strategicaly drawn trendlines around Support and Resistance.

                    - 1st draw your support and resistance levels on the chart
                    - then draw trendlines
                    - when trendlines intersect with support and resistance a pattern may or maynot form.
                    - this gives clues to potential target and or
                    new support and resistance.

                    Comment


                    • #25
                      Re: How to accurately draw support & resistance line ???

                      This is a good topic. I think something like that should be included in beginners discussion as well. Support & resistance line as well as observing trends, I think that form the basis of technical analysis. Pivot points are also good indicators that I use in my daily trading.

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                      • #26
                        Re: How to accurately draw support & resistance line ???

                        I find the easiest way to draw support resistance lines is from a weekly time frame. Pull up a weekly chart draw a horizontal line at all the obvious stopping points. If you go back ten years or so you will see the same points act as support and resistance over and over again.

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                        • #27
                          Re: How to accurately draw support & resistance line ???

                          Last time i saw the thread about FIBONACCI GRID but now its missing and i cannot find them now, seems it can be good to determine Horizontal Support & Resistance.

                          Anybody know where is the location those thread now, please ?

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                          • #28
                            Re: How to accurately draw support & resistance line ???

                            I draw my S&R lines based on Highs and lows from the 4 hr chart. Accuracy is not critical as often one sees the price go through the S or R line before stopping and retracing. Take profit before the S&R lines say about 5-10 pips for safety.

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                            • #29
                              Re: How to draw trendlines

                              it crash my mt4 terminal 3x. i think he has a demo, which expired, and a commercial version, don't know the $. they're both upgrades of the version in the previous post. i think the only difference in the demo and commercial is the expiration. does any1 have the commercial version?

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                              • #30
                                Re: How to draw trendlines

                                found another(?) version of this trendline. it has only the .ex4 and a manual in pdf. some1 may have modified it, the email in the indicator is different from the pdf. don't know what else is modified.

                                Code:
                                http://www.4shared.com/file/97949948/41f369eb/Wave_Auto_Trend_Line.html

                                Comment

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