- This AFL is semi-automatic in the sense because you have to set the support, resistance, and trend lines. After you learn how this AFL works, you can go to more advanced coding to automate your price action trading, but it is not easy. However, in this tutorial, I am showing only the basics. I suggest that you automate support and resistance levels in your AFL. Also, you have to have a good strategy.
- Trend Lines are one of the most useful tool in identifying areas of Supports & Resistance. It takes time to learn in plotting Trend lines in a more professional way. This AFL code helps a lot in marking important trend lines. New users can benefit a lot in learning the process of marking and plotting trend lines with the help of this AFL.
- Automatic Support Resistance Channel Afl – Automatic Support Resistance Channel Afl is a concept in technical analysis that the movement of the price of a security will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level.
- The 7 Most Important Types of Support and Resistance & How to Use Them. Traditional swing highs and lows. Perhaps the most important support and resistance levels are traditional swing highs and lows. These are levels that we find by zooming out to a longer time frame, typically the weekly chart or possibly even monthly.
- Advanced Support Resistance And Trendlines Aflam
- Advanced Support Resistance And Trendlines Aflac
- Major Support Resistance Trend Line - Afl Code
Aug 29, 2014 Prices respect a trend line, or break through it resulting in a massive move. Drawing good trend lines is the MOST REWARDING skill. The problem is, as you may have already experienced, too many false breakouts. You see trend lines everywhere, however not all trend lines should be considered. You have to distinguish between STRONG and WEAK trend.
Advanced Support Resistance And Trendlines Aflam
Advanced Support Resistance And Trendlines Aflac
Major Support Resistance Trend Line - Afl Code
Updated 12th August 2014
Support and resistance is one of the most widely used concepts in trading. Strangely enough, everyone seems to have their own idea on how you should measure support and resistance.
Let's take a look at the basics first.
Look at the diagram below. As you can see, this zigzag pattern is making its way up (bull market). When the 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 market oscillates over time. The reverse is true for the downtrend.
As you can see, this zigzag pattern is making its way up (bull market). When the 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 market oscillates over time. The reverse is true for the downtrend.
How are supports and resistances used for trading ? Several ways:
- Pull back trading. On each pullback from a newer high and low for example for long trades and the converse for shorts.
- Support or resistance break. When price crosses the boundaries of the supports and resistances, these levels are said to breached and its possible to trade these breakouts.
Supports and resistance trading needs to be combined with view of the larger market to be effective. These remain the most effective and powerful methods for successful trading.
Improperly used, the use of this approach can cause a serious dent in your trading account. Read more about these in the separate subsection for this concept.
Read more: http://www.babypips.com/school/support-and-resistance.html#ixzz1bxlk5CJm