Support Resistance Forex Trading System – Best Forex Intraday and Swing Trading System Based on Support Resistance Lines and Momentum Indicators. This is a strategy for intraday and swing trading. Time frame 15 min or higher.
Support and resistance is one of the most widely used concepts in forex trading. Strangely enough, everyone seems to have their own idea on how you should measure forex support and resistance.
Look at the diagram above. As you can see, this zigzag pattern is making its way up (bull market). When the forex market moves up and then pulls back, the highest point reached before it pulled back is now resistance.
As the market continues up again, the lowest point reached before it started back is now support. In this way, resistance and support are continually formed as the forex market oscillates over time. The reverse is true for the downtrend.
Trades only in the direction of the trend
- Roc green line crosses above yellow line and violet line;
- Osma proby > 0;
- RSI TC New > 0 wit green line;
- Trend CCI blue bar or green bar;
- Price breaks green support.
- Roc green line crosses belw yellow line and violet line;
- Osma proby < 0;
- RSI TC New < 0 wit green line;
- Trend CCI red bar or maroon bar;
- Price breaks red support.
Exit position is discretionary
The advantage of this system is to be able to in a way acceptable to filter the lateral market phases. The results are very interesting!!
The disavantage is the visual impact on the screen, it’s not good.