MQL5 PROJECTS: Code A Support & Resistance BreakOut Strategy

Partner: Udemy
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Description: One of the most fundamental concepts that traders use to analyze and predict market movements is support and resistance. These levels represent critical price points where the market has historically shown a tendency to reverse direction. By understanding support and resistance principles, what causes these levels to form, and why they remain reliable over time, traders can develop more informed strategies and improve their chances of success in the currency markets.Support and resistance are price levels on a chart where the price of a currency pair repeatedly struggles to move beyond. These levels are formed by the interactions between buyers and sellers in the market and are crucial to understanding market behavior.Support levels are price zones at which there is a lot of buying pressure which is strong enough to prevent prices from falling further. At these levels a currency pair consistently bounces higher at these zones making it appear as a price floor. When prices approach a support zone, traders believe the currency is undervalued, which leads them to buy, pushing the price upwards.Resistance levels are the opposite of support levels. They represents a price zones where selling pressure is strong enough to stop prices from rising further. It acts as a "ceiling" where the currency pair faces significant pressure from sellers, who view the price as overvalued and decide to sell. When the price nears resistance, traders are more likely to sell, pushing the price lower.In this course, our aim is to build a support and resistance indicator and expert advisor in mql5. We shall start by creating a support and resistance indicator, ensuring that you learn how to identify key market decision levels using programming tools. I shall guide you step by step in the logic of the code ensuring that you’re able to follow through and understand the full logic of the code. We shall then use our mql5 indicator to develop our breakout trading strategy as an mql5 expert advisor coded using the m
Category: Finance & Accounting > Investing & Trading > MQL
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Price: 54.99
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Source: Impact
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