FiboPivotCandleBar - indicator for MetaTrader 4 This indicator is a composite of several indicators: Fibonacci, Pivot Point, ZigZag, MACD and Moving Average which are combined in this indicator. This indicator gives advice to buy and sell with the direction of the arrow.
D1 price is located above 200-day SMA (200 SMA) and 100-day SMA (100 SMA) for the primary bullish market condition with the secondary ranging within the following s/r levels: Fibo resistance level at 1.1437 located far above 100 SMA/200 SMA in the primary bullish area of the chart, and61.8% Fibo support level at 1.1057 located near 200 SMA in the beginning of the bearish area of the chart. RSI indicator is estimating the ranging bullish trend to be continuing. ...
Talking Points: This article is a capstone on the topic of support and resistance.Below we discuss multiple subjects within the field of support and resistance, many of which offer more detailed information by clicking on the relevant link. Identifying Support and Resistance Before we can use support and resistance in our trading, we have to know how to first find it, right? This is where support and resistance identification comes in; and ...
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