View Single Post
Old 04-03-2009, 18:18
Jcm Jcm is offline
Level 1 Lasers Member
Join Date: Feb 2009
Posts: 3

Originally Posted by yogitrader View Post
I use "SR7" (fxfisherman?)which draws horizontal support/resistance on the charts as they develop. It uses fractals to do this-it works quite well, but you have to use your brain to see if these lines are meaningful. I also use daily pivots as S/R as institutional traders use them as self fulfilling prophecies. Candle wicks tell the change in bias pretty clearly.
Indicators themselves only repeat price action through an algorithmic lens. You need to SEE this yourself on the price chart.
I have a stupid question? Who knows how to apply Daily Pivots to Mt4 charts? I'm new to the Mt4 platform, so that's my excuse :)

Thanks for the help!