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support & resistance ( donperfect zones

ahmadjohar

Active member
[indicator - current version: 2.08]


DonForex PerfectZones is a highly advanced indicator that draws automatically the support/resistance (S/R) zones and trend lines.
A really classic and essential tool.

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Description:

  • Works with a completely unique calculation method
  • Automatically draws support/resistance zones
  • Automatically draws trend lines
  • Displays the broken, but still actual trend lines (dotted lines)
  • Calculates and displays the followings:
    • The range of the support/resistance zones (in points)
    • The 'weight' of the S/R zones (the higher value the more significant zone)
    • The distance between two adjacent zones (in points)
    • The length of the trend lines (number of bars)
    • The number of touches of the trend lines (the higher value the more significant line)
    • Indicates whether there is no more S/R zones in the given direction (with an arrow)
  • Adjustable intervals for S/R zones and trend lines (number of bars)
  • Selectable sensitivity (2 grades)
  • Adjustable trend line style
  • Automatically calculates the colors of S/R zones from the chart's background color (very convenient feature)
  • Color settings for trend lines
  • Error-free operation, high quality coding


  • For developers:
  • One can build his/her own expert advisors or indicators based on PerfectZones
  • Indicator values are easily accessible via global variables

Using tips:

  • Search for charts that are "clear" (ie. nice top/bottom peaks, no choppy, short candle-wicks)
  • These clear charts respect better the S/R levels, so they give more reliable signals
  • Wait until the price's approaching a zone
  • At the S/R zone look for the signs of a possible break out or reversal
  • Two types of typical break-out formation:
    • 1. Big and definite candle with a strong momentum (faster)
    • 2. Approaching the zone the candles are getting smaller and smaller and then breaks through (slower)
  • (Perhaps) the most reliable case when price breaks through the zone and then makes a retest (support becomes resistance and vice-versa)
  • Reversal signs for example: engulfing, pinbar etc ... there is a lot
  • Additional confirmatory factor, if there is a conjunction with any other level-system (eg. Fibo, pivot etc ...)
  • Of course, the trend lines are also S/R levels that have a slope
  • Higher time frames give more significant S/R zones
 

Attachments

Farazi

Active member
Banned Users
use winrar to unzip
[automerge]1542733740[/automerge]

use winrar to unzip
[automerge]1542733867[/automerge]

it works, put the key in your meta trader editor files folder
This works fine. Maybe not an updated version but works superbly along with other indicators. This and logic trendline and daily pivots are the best thing combined. I wish I can get my hands on A2 SNR indicator as I posted on my thread. I am starting to feel we need a combination of indicators and our own analysis to make them work for us.
 

ahmadjohar

Active member

Attachments

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