Dynamic Support and Resistance Indicator MetaTrader 4

Support and Resistance Zones in Gold Trading is one of the widely used gold technical analysis method. Support and Resistance Zones in Gold Trading shows the areas where xauusd price is likely to bounce off after reaching these Support and Resistance Zones. Most traders draw horizontal lines to show these Support and Resistance Zones - Support and Resistance Zones in Gold Trading.

There is also a gold indicator used to draw these Support and Resistance Zones automatically and indicate the resistance and support levels - MetaTrader 4 Support and Resistance Indicator MetaTrader 4 XAUUSD Charts - Support and Resistance Zone Indicator MetaTrader 4 - Support and Resistance Zones Indicator Gold Trading.

- MetaTrader 4 Support and Resistance Indicator MetaTrader 4 XAUUSD Charts - Support and Resistance Zone Indicator MetaTrader 4 - Support and Resistance Zones Indicator Gold Trading

When it comes to these Support and Resistance Zones -price can either bounce off these Support and Resistance Zones or break these Support and Resistance Zones.

If a resistance zone is broken the xauusd price will move higher and the resistance zone will turn to a support zone.

If a support zone is broken the xauusd price will move lower and the support zone will turn to a resistance zone.

Support Zones - Gold Price where the majority of gold traders believe that xauusd prices will move higher, while Resistance Zones indicate the xauusd price at where majority of gold traders feel xauusd prices will move lower.

Once xauusd price has broken through a support zone or a resistance zone then it is likely that the xauusd price will continue to move in that particular direction until it gets to the next support zone or resistance zone.

The more often a Support or Resistance zone is tested by the xauusd price and the xauusd price bounces, the more major a Support or Resistance Zone that particular level becomes.

Auto Support and Resistance Indicator MetaTrader 4

Dynamic Support and Resistance Indicator Zones are calculated using gold trend lines method.

Upward XAUUSD Trend

In an upward gold trend the Dynamic Support and Resistance Indicator Zones will generally head upwards in an upwards direction

Upward Gold Trend - Dynamic Support and Resistance Technical Indicator MetaTrader 4 - MetaTrader 4 Support and Resistance Indicator MetaTrader 4 Gold Charts

Downwards Trend Gold Trading

In a downward gold trend the Dynamic Support and Resistance Indicator Zones will generally head downwards in a downward direction

Downward Trend Gold Trading - Dynamic Support and Resistance Technical Indicator MT4 - MetaTrader 4 Support and Resistance Indicator MetaTrader 4 Gold Charts