Support And Resistance Metatrader 4 Indicator
The Barry Support and Resistance MT4 indicator visualizes support and resistance levels on the charts. Blue colored dots suggest support. Red colored dots suggest resistance. It works on all currency pairs and for all time frame’s.
Buy a close above resistance in up trending markets. Place stop-loss below previous support.
Sell a close below support in down trending markets. Place stop-loss below previous resistance.
Use in conjunction with trend analysis tools to determine the primary trend. Trade with the trend for best results.
GBP/USD Daily Chart Example