Fully functional auto supports/resistances indicator for Metatrader 4. The user can choose between drawing only long-term S&Rs, or both long-term and short term. No more going back to find S/R’s, start using this indicator to automate the process.
Derived from signal processing, this indicator is a state-of-the-art, low-lagging smooth trend indicator, for Metatrader 4 and NinjaTrader 7. The advantages over other moving averages (simple, linear weighted, exponential, etc) is that AT Dynamic Trend signals a trend change quicker, and isn’t erratic as the linear-weighted and exponential moving averages. The recommended periods to use are 15 and 21. Alerts in Metatrader, by email and push notifications.
Draws Daily, Weekly and Monthly pivots and the respective supports and resistances levels (S1, S2, S3, R1, R2, R3). Ideal for placing stop losses and/or use as a break-out strategy. Set R1, R2, R3 and S1, S2, S3 to true to show pivots supports and resistances levels.
In order to know if it’s ‘expensive’ to trade a given pair, the spread should be compared to the pair’s natural volatility. A 2 pips spread in a pair that ranges 300 pips a day is a low cost, while on a pair that ranges 40 pips a day it’s more expensive. This indicator compares the spread to the pair’s average range in each TIMEFRAME, and highlights expensive timeframes to trade. Additionally shows the cost of the spread in currency, converting to your chosen currency.