Support and Resistance Forex Technical Analysis MT5 Indicator

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

There is also an indicator used to draw these levels automatically & indicate the resistance and support levels.

MT5 Indicator - Support and Resistance MT5 Indicator - Support Resistance Levels MetaTrader 5 Trading Analysis

When it comes to these levels FX trading price can either bounce off these zones or break through these zones.

If a resistance level is broken forex price will move higher and the resistance level will turn to a support.

If a support level is broken forex price will move lower and this level will turn to a resistance.

Forex Price where the majority of investors believe that prices will move higher, while resistance levels indicate the price at which a majority of investors feel prices will move lower.

Once forex price has broken through a support or a resistance then it is likely that the FX price will continue to move in that specific direction until such a time when it gets to the next support or resistance area.

The more often a support or resistance level is tested or is touched by the forex price and bounces, the more major that particular level becomes.