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Today we are going to focus on horizontal levels (HL).
➖HLs and other instruments are based on MA, they are used only for determining support and resistance levelling.
They are plotted depending on where the price movement stopped, where the price made its important high/low/close.
Higher...
Horizontal lines ar crucial to find the best stop levels, but they can give you much more information and also trading opportunities. Try to draw them in a right way and I am sure thay will help you.
Identify horizontal support and resistance lines using your choice of 6 methods.
Available options
Lookback window: Number of bars back to consider in calculations
Lookback window right (only applicable for methods 3 and 4): Number of bars to the right to consider in calculations
Number of S/R lines to plot: S/R lines to plot (currently the max setting is 4...
Looking at the m15 chart only can lead you to have the correct idea but in the wrong place.
By looking at high time frame charts you get a better picture of when a trend is in place, when a trend is no longer working or when there is no trend and we're in a range.
On the attached charts a daily time frame (top left) has a defined up trend and at 1.6700 the trend...
I've been getting some messages about possible collaborations and questions about what I'm working on, so heres a few of my current projects that I will start working on in the next few months. If you have a good background in programming or maths and have interest in these projects feel free message me!
I- Holy Grail
a) Making the Holy Grail pick...
