Best Support Resistance Levels Setting for H1 Gold Chart

How to Add Support and Resistance Indicator on MetaTrader 4

Step 1: Open MT4 Software Navigator Window Panel

Open the MetaTrader 4 Navigator window as shown below: Navigate to 'View' menu (click) & then select 'Navigator' window (click), or From the Standard Tool Bar click the 'Navigator' button key or use keyboard short cut keys 'Ctrl +N'

On MT4 Navigator panel, select "Technical Indicators", (DoubleClick)

Best Resistance and Support Levels Setting for H1 Gold Chart - Best Support and Resistance Levels Setting for H4 XAUUSD Chart

Step 2: Expand the XAUUSD Indicators Menu on the Navigator

Expand the menu by clicking the expand button marker (+) or double click the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the Support and Resistance indicator from this list of xauusd trading MT4 indicators so as to add the Support and Resistance technical indicator on the gold chart.

Best Support Resistance Setting for H1 Gold Chart - Best Support Resistance Levels Setting for H4 XAUUSD Chart

How to Add Custom Support and Resistance Indicator to MetaTrader 4

If the xauusd trading Support and Resistance technical indicator you want to add is a custom indicator - for example if the Support and Resistance technical indicator you want to add is a custom indicator you will need to first add this custom Support and Resistance technical indicator on the MetaTrader 4 software and then compile custom Support and Resistance indicator so that the newly added Support and Resistance custom xauusd indicator appears on the listing of custom xauusd indicators on the MetaTrader 4 software.

To learn how to install Support and Resistance indicator on MetaTrader 4, how to add Support and Resistance indicator window to MetaTrader 4 platform and how to add Support and Resistance custom MT4 indicator in MT4 - How to add custom Support and Resistance xauusd Indicator in MetaTrader 4.

Support & Resistance XAUUSD Trading Indicator Described

Support & Resistance XAUUSD Technical Analysis and Support and Resistance Trading Signals

Support & Resistance is one of the widely used gold trading analysis concepts in xauusd. Most traders draw horizontal lines to show these areas.

There is also a xauusd indicator used to draw these Support & Resistance levels automatically & indicate the resistance and support levels on the xauusd charts.

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Best Support Resistance Levels Setting for H1 Gold Chart - Best Support and Resistance Setting for H4 XAUUSD Chart

When it comes to these Support and Resistance levels gold price can either bounce off these areas or break these areas.

If a resistance level is broken -price will move higher & the resistance level will turn to a support level.

If a support area is broken - price will move lower & this support level will turn to a resistance level.

Once gold price has broken through a support or a resistance level then it is likely that the gold price will continue moving in that particular direction until it gets to the next support level or resistance level.

The more often a support level or resistance area is tested by the gold price and bounces, the more major that particular Support or Resistance level becomes.

Support & Resistance Gold Technical Analysis & Generating Trading Signals

Support and Resistance levels are calculated using trend-lines technique.

Upward Gold Trend

In an upwards gold price trend the resistance and support areas will generally move upward

Best Support Resistance Levels Settings for XAUUSD Swing Trading

Downward XAUUSD Trend

In a downward gold price trend the resistance & support areas will generally move downwards

Best Resistance and Support Levels Settings for XAUUSD Swing Trading