Forex Wiki Trading > FX Ind > MAX_SC a trend follower using dynamic supports and resistances

MAX_SC a trend follower using dynamic supports and resistances

  • July 9, 2013
  • Posted by: Forex Wiki Team
  • Category: FX Ind
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MAX_SC a trend follower using dynamic supports and resistances
Author: maximus71 (2009.04.23 08:17)
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MAX_SC a trend follower using dynamic supports and resistances 1
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MAX_SC a trend follower using dynamic supports and resistances 2
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Hi, this is my first indicator, sorry for my bad english!! 🙂

Well this is another trend indicator. It shows to you dynamic supports and resistances for making decisions.

You can use this settings (but i invite you to try some other settings for best results)

EURUSD, GPBUSD

M1 (Overboost = 0.065, Kv = 0.075, Kz = 0.0)

H1 (Overboost = 0.0, Kv = 0.5, Kz = 0.0)

This indicator retraces only last bar, so if you want a good entry indication you could wait the breakout bar (bar in which changes indication from support to resistance or viceversa) closing itself.

It's clear that in ranging market this indicator can get some invalid entry point.

Enjoy.

PS: I'm working to multitime (with warnings) indicator based on this indicator, i hope to finish as soon as possible to share it with you.

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