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Re: Something interesting please post here (Metatrader)

bilbao, Fri Apr 14, 2017 4:29 pm

Ichimoku Auto Support Resistance (trendlines) for MT4

The indicator shows the support and resistance levels using two sources of data: local extremes prices and cloud-built indicator Ichimoku Kinko Hyo.

The level of construction in the form of a segment that connects the fractal given rank (rank - the number of candles that form a fractal) and the corresponding edge of the cloud: for the upper fractals - the top line of the cloud, for the bottom - the lower limit of the cloud.

The result of the indicator is a plurality of pieces of support and resistance levels. Frequency mapping sections depends on the value of the parameter "Rank fractal" - the higher the value, the lower the frequency, and vice versa

PS: A newer version can be found, here: Ichimoku Support & Resistance lines indicator 👈
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