Dynamic Resistance and Support Indicator MetaTrader 5
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 5 Support and Resistance Indicator MetaTrader 5 XAUUSD Charts - Resistance and Support Zone Indicator MetaTrader 5 - Support and Resistance Zones Indicator Gold Trading.
- MetaTrader 5 Support and Resistance Indicator MetaTrader 5 XAUUSD Charts - Resistance and Support Zone Indicator MetaTrader 5 - 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 into a support zone.
If a support zone is broken the xauusd price will move lower and the support zone will turn into a resistance zone.
Support Zones - Gold Price where the majority of gold traders believe that prices will move higher, while Resistance Zones indicate the price at where majority of gold traders feel prices will move lower.
Once xauusd price has broken through a resistance zone or a support 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 Resistance or Support 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 Resistance and Support Indicator MetaTrader 5
Dynamic Resistance and Support Indicator Zones are calculated using gold trend lines method.
Upward XAUUSD Trend
In an upward gold trend the Dynamic Resistance and Support Indicator Zones will generally head upwards in an upwards direction
Upward Gold Trend - Dynamic Resistance and Support XAUUSD Indicator MetaTrader 5 Gold Trading Platform - MetaTrader 5 Gold Trading Platform Support and Resistance XAUUSD Indicator MetaTrader 5 Gold Charts
Downward Trend Gold Trading
In a downward gold trend the Dynamic Resistance and Support Indicator Zones will generally head downwards in a downward direction
Downward Trend Gold Trading - Dynamic Resistance and Support XAUUSD Indicator MetaTrader 5 Gold Trading Platform - MetaTrader 5 Gold Trading Platform Support and Resistance XAUUSD Indicator MetaTrader 5 Gold Charts
