Dynamic Resistance and Support Indicator MetaTrader 5
Support & Resistance Zones in Gold Trading is one of the widely used gold technical analysis method. Support & Resistance Zones in Gold Trading shows the areas where xauusd price is likely to bounce off after reaching these Support & 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.
- MT5 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 & Resistance Zones or break these Support & 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 level 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 show 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 specific direction until when it gets to the next support zone or resistance zone.
More often a Resistance or Support area is tested by the xauusd price & the xauusd price bounces, the more major a Support or Resistance Area that particular level becomes.
Auto Resistance and Support Indicator MetaTrader 5
Dynamic Resistance & Support Indicator Zones are calculated using gold trend lines method.
Upward XAUUSD Trend
In an upwards gold trend the Dynamic Resistance and Support Technical Indicator Zones will generally head upwards in an upward direction
Upwards Gold Trend - Dynamic Resistance and Support XAUUSD Indicator MetaTrader 5 Gold Software - MT5 Gold Platform Support & Resistance XAUUSD Indicator MetaTrader 5 Gold Charts
Downwards Trend Gold Trading
In a downward gold trend the Dynamic Resistance & Support Technical Indicator Zones will generally head downward in a downward direction
Downwards Trend Gold Trading - Dynamic Resistance and Support XAUUSD Indicator MetaTrader 5 Gold Software - MT5 Gold Platform Support & Resistance XAUUSD Indicator MetaTrader 5 Gold Charts
