This is a simple utility which being placed on chart detects and draws major Support and Resistance levels.
Very helpful for:
- Overall markets understanding
- Placing your Stop Loss and Take Profit
- Grid trading, if you are a fan of it
There is only one adjustable parameter which affects drawing - Threshold . The bigger it is, the less levels you will see.
SnR ID # - unique utility identifier. Should be set different for every instance running in the same Terminal and on the same Symbol.
For proper operation it requires M1 history data for the last 6 months. Make sure you have it, before applying the utility to the chart.
