| What is support and resistance? that's the level that price don't want to get over. At first, we must identify the sideway zone of the price ( where prices repeat in there ), you can see this zone by using the bollinger band, when the high or low band stop extending, and the frequency of the price is consecutively growing, I use Market_Statistics_v6_0_Drag.mq4 indicator to show it. Mark the high and low of this range, we get the support and resistance level, where price hardly get over. for example you can see in this chart: |
Drag the indicator to the trend where you want to analyze.
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