Super Support & Resistance

[kuboi]

Thanks Scorpion,

SuperSR7 is very cool. Can we make it alert with sound when price is crossing support and resistance

[bimal]

Good evening!. Does anyone feel the time is right to go long on the gbpusd

[droesparky7]

OK this is a 15 min chart with SR7 not the fast one, and a 5,3,3 stochastic.

What do you think about it, does it give you any trade ideas? this might lead to something, Im gonna do some more messin.

[droesparky7]

Here it is with Williams %R set to 5 on m15, this looks tradable also. I would say on these type trades move stop to B/E as quick as you can and either get out and the last S/R level or let it run.

I would think it best to go with the trend also, but if you get the hanf of it you can go both ways with it.

[herty]

Hi Guys,

My first post here, hello and thanks to Scorpion for the SR7 & SR7-fast.
Why this post? SR7-fast does not print whereas the SR7 is ok. Strange but there it is.

Herty

[droesparky7]

Hey scorpion can you make the superSR7 where it will draw even less areas, I guess Im asking for a even slower version.

[Linuxser]

Hello.

Scorpion, have you considered to make this indicator MTF.

[et_phonehome_2]

Though hindsight show this as good to buy/sell on the break, is there anything additional to confirm that there will be momentum or volatility to keep going?

[scorpion]

Yup, various backtests show that momentum is there after breakout. It however depends on some kind of market cycle. From March 2005 to May 2006, the market carried a lot of momentum to continue 100 pips or more. From June 2006 to April 2007, the momentum is gone. Market continue at most 40 pips or not at all and retracts back. I see multiple false breakouts before a real breakout during this cycle.

This cycle must have something to do with fundamental analysis, more specifically, on the banks. Maybe it's a series of the same monetary policy that limit the momentum. Yeah the interest rate is my prime suspect. It's one of a few indicators that has long-term effect on forex rates.

You can see from my backtest equity charts. The same setting works on multiple pairs but they all fail during the bad cycle.

[WAI WONG]

How can I get the MT4 indicator ?