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Levels of support or resistance by Gerchik


An indicator to identify local resistance/support levels for trading on trend breakout/rebound.

With the help of this indicator, there is a coincidence of minimum / maximum prices, which allows you to identify a large moneymaker order placed. After finding the level, a signal is given, the local resistance or support level is emphasized. You just have to place orders for a breakdown / rebound from the trend line.

It is suitable for trading on the Gerchik system.

The indicator is multicurrency and works on any timeframe.

  • Color of line – the color of the line underlining the resistance/support level
  • Thickness of line – line thickness
  • Analyze bars – the size of the group of analyzed candlesticks
  • Deviation (in Pips) – permissible deviation in pips when evaluating a group of candles
  • Min matching bars – minimum number of matched candles
  • Name file in Sounds – the name of the file in the Sounds folder to sound when a new level is found.
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