![]() If you are using the 4hour chart, then the indicator uses the weekly candle for the S&R level calculation and finally if you switch to the daily chart, the calculation is based on the monthly candle.įor the rest of this article I will assume that we are on the 1hour timeframe, thus the calculation is based on the daily candle. For the 1hour and everything below the daily timeframe is the base timeframe that is used for the calculation. ![]() Which timeframe is used for the calculation depends on the actual timeframe of your chart. The Candle SnR Indicator For MT4 uses the previous daily, weekly or monthly candle to show you some strong support and resistance levels. Explanation of the Candle SnR Indicator For MT4 Following that explanation, I will then show you some trade examples of a good trading strategy that is based on the Candle SnR Indicator For MT4. ![]() In this article I will first explain how this indicator works. Alerts In Real-Time When Divergences Occur
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