KFX Support and Resistance
The indicator shows the levels of support and resistance lines as the larger timeframes. It can be run on any timeframe, but will appear only data timeframes H1-W1. Therefore, the indicator is well suited for small tayfreymov to search for inputs when price movement of line.
The screenshots show the actual trading situations, using KFX Trade Plotter.
The use of the indicator in the chart analysis
Select indicator for displaying (H1, H4, D1 or W1). The indicator also displays the time of the candle. I use the indicator on the M15. On the last screenshot briefly mentioned, how to analyze the currency pair and choose the best entry point. Usually I am looking for a minimum of three confirmation:
- Price observes line support and resistance
- RSI shows a divergence
- Candles form a W or M, price touches support and resistance lines 2 times
- Candle_Closing_Time - closing candles
- location - select to display 1-4 times (schedule angle)
- displayservertime - 1 at close to the time of closing the candle displays server time
- fontSize - font size
- SHOW_H1 - enable / disable the H1 line
- SHOW_H4 - enable / disable the H4 line
- SHOW_D1 - enable / disable line D1
- SHOW_W1- enable / disable line W1
- Supply_Demand_Area - the size of the support / resistance lines
- All colors are set
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