Resistance and Support Zone Indicator MetaTrader 5

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

There also is a indicator used to draw these Support & Resistance Zones automatically and indicate the resistance and support levels - MT5 Support & Resistance Indicator for MT5 Charts - Resistance & Support Zone Indicator MT5 - Support & Resistance Zones Indicator XAUUSD.

Resistance and Support Zone Indicator MT5

- MT5 Support & Resistance Indicator for MT5 Charts - Resistance & Support Zone Indicator MT5 - Support & Resistance Zones Indicator XAUUSD

In these Support & Resistance Zones -price can either bounce off these Support and Resistance Zones or break these Support & Resistance Zones.

If a resistance zone is breached the price will move higher and the resistance zone will turn into a support zone.

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

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

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

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