Best Resistance and Support Levels Setting for H1 Crude Oil Trading Chart

Adding MT4 Support and Resistance Indicator

Step 1: Open the MetaTrader 4 Platform Navigator Panel

Open the MetaTrader 4 Navigator window as shown below - Go to "View" menu (then click it) and then choose the "Navigator" window (click), or From the Standard Tool Bar click "Navigator" button key or use keyboard short cut keys "Ctrl +N"

On the MetaTrader 4 Navigator window, select "Technical Indicators", (Double Click)

Best Support Resistance Setting for H4 Crude Oil Trading Chart

Adding Support and Resistance MT4 Oil Trading Technical Chart Indicator

Expand menu by clicking the expand button key 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 oil MT4 technical indicators so as to add the Support and Resistance indicator on the crude oil chart.

Best Support and Resistance Levels Setting for H4 Crude Oil Trading Chart

How to Add Custom Support and Resistance Indicator on MT4

If the oil 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 indicator on the MT4 software and then compile custom Support and Resistance indicator so that the newly added Support and Resistance custom oil indicator pops up on the list of custom indicators in MetaTrader 4 software.

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

About Support and Resistance Oil Technical Indicator Guide

Support & Resistance Crude Oil Technical Analysis and Support & Resistance Trading Signals

Support & Resistance is one of the widely used oil technical analysis concepts in oil trading. Most oil traders plot horizontal lines to show these areas.

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

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Best Support and Resistance Setting for H4 Crude Oil Trading Chart

When it comes to these Support and Resistance levels crude oil 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 crude oil price has broken through a support or a resistance level then it is likely that the crude oil price will continue moving in that particular direction until it gets to the next support level or resistance level.

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

Support & Resistance Crude Oil Trading Technical Analysis & Generating Trading Signals

Support & Resistance levels are calculated using trendlines method.

Upward Crude Oil Trading Trend

In an upward crude oil price trend the resistance and support areas will generally move upward

Best Support Resistance Settings for Scalping Crude Oil Trading

Downwards Oil Trading Trend

In a downwards crude oil price trend the resistance & support areas will generally move downwards

Best Support and Resistance Settings for Scalping Crude Oil Trading