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Different Brokers and Support/Resistance Boxes
Will support/resistance boxes be the same on all brokers?
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impulsewaver
Intermediate
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July 9, 2013 - 23:56
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Hi Theo,

I was wondering if the free support resistance indicator needs to be only used on fxpro? I have it on 2 different brokers with slightly different results.   Thanks Ted** Register Here for Free Membership to see this image/link **

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impulsewaver
Intermediate
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July 10, 2013 - 00:23
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Although i just noticed that the 4 hr charts are the same. I know you suggest trading the 4 hr but do they also work on the lesser time frames? Sorry for so many questions just trying to get a feel for it and want to learn it correctly with correct information the first time. Please bare with me if your annoyed. thanks Tedidiosmile

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Theo Patsios
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July 10, 2013 - 03:05
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Hey Ted,

The SR indi can be used on any Broker but don't forget Brokers love to add ticks here and there
Your charts may look almost the same from Broker to Broker if they are the same timezone candles but..
they will not be, notice how in your top image that the latest swing high just touched the box,
in the bottom image it did not and therefore a new box was drawn.
Often one Broker will have a different size spike than another.

As for the method; if you are good enough you can do this right down to M15 quite safely.
I have one member who is able to take it to the M5 level even but that is extreme and more scalping.

Cheers.
Theo

 

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