The RES-SUP indicator

RES-SUP – indicator MetaTrader 5

by

Real author:

TOPpoint

Two pairs of support and resistance levels based on the candlesticks of the timeframe specified in the input parameters.

The formula for the calculation of the levels:

Res2 = ( Low + High + Close ) / 3 + ( High – Low ) * 0.618

Res1 = ( Low + High + Close ) / 3 + ( High – Low ) * 0.5

Sup1 = ( Low + High + Close ) / 3 – ( High – Low ) * 0.5

Sup2 = ( Low + High + Close ) / 3 – ( High – Low ) * 0.618

This indicator was first implemented in MQL4 and published in the Code Base at mql4.com on 30.01.2008.

The RES-SUP indicator

The RES-SUP indicator


RES-SUP – indicator MetaTrader 5
📈 ROBOTFX MetaTrader Expert Advisors and Indicators to maximize profits and minimize the risks
Alternative:  BWImp-T01_StDev - indicator MetaTrader 5

Similar MetaTrader Trading Tools: