Thread: ASCTrend system
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Old 06-29-2006, 01:27 PM
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Quote:
Originally Posted by european
Hi ND,
could you please tell me (or direct to a post) about the significance of Blue and Red Level lines, see attachment
It is ^Pivot_ResSup.mq4 indicator.

It is written inside the code (in Russian):
"Drawing Pivot and Res/Supp according to Fibonacci Trader Journal Issue 6. Author is Modest (MT3) Rosh - converted only."

I always using it during the seveal months already. It drawing support/resistance lines and those lines are statical ones (the lines are not moving during the day). In most cases the price will be stoped near the line. It will be the other lines tomorrow (in different places on the chart).
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