MT4 Support & Resistance Indicator Meta Trader 4 Charts

Support & Resistance Levels in XAUUSD is one of vastly used trading analysis method. Support & Resistance Levels in XAUUSD highlights the areas where price is likely to bounce off after reaching these Support & Resistance Levels. Most traders draw horizontal lines to show these Support & Resistance Levels - Support & Resistance Levels in XAUUSD.

There also is a indicator used to draw these Support & Resistance Zones automatically and indicate the resistance and support levels - MT4 Support & Resistance Indicator Meta Trader 4 Gold Charts - Support and Resistance Zone Indicator MT4 - Support & Resistance Zones Indicator XAUUSD.

MetaTrader 4 Support & Resistance Zones on Charts Explained

- MT4 Support & Resistance Indicator Meta Trader 4 Gold Charts - Support and Resistance Zone Indicator MT4 - Support & Resistance Zones Indicator XAUUSD

When it comes to these Support and Resistance Zones -price can either bounce off these Support & Resistance Zones or break these Support and Resistance Zones.

If a resistance zone is breached the price will move higher & the resistance zone will turn to a support zone.

If a support zone is breached the price will move lower & the support zone will turn to a resistance zone.

Support Levels - Price where the majority of traders believe that prices will go higher, while Resistance Levels indicate the price at where majority of traders feel price will move lower.

Once price has broken through a support zone or a resistance zone then it's likely that the price will continue to move in that particular direction until when it gets to the next support zone or resistance zone.

The more often a Support or Resistance area is tested by the price & the price bounces, the more major a Support or Resistance Level that specific level becomes.