This is custom metatrader4 (mt4) indicator. This mt4 indicator draws support and resistance lines based on technique I wrote on this support and resistance article. You can use it on your preferred timeframe and currency pairs.

A friend of me built this custom forex indicator for me few month ago. Before you use it, you better watch how this mt4 indicator technically works. Seems that it draws a support or resistance lines after (at least) two unsuccesful trial to break a certain price level.

Pipholic Support and Resitance Indicator

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Installation

1. Download and Unzip the Ex4 file
2. Copy the Pipholic_SR.ex4 into your Metatrader indicators directory (Mt4 -> experts ->indicators)
3. Start your Mt4, Open the chart window, apply the indicator from ‘Insert’ menu (Insert -> indicators -> custom -> Pipholic_SR )
4. that’s all

• My Journey to The Horizon :: my blog updatesk :: February :: 2008