Square 9 Indicator

Square 9 Indicator draws a graph set of horizontal support and resistance lines, which exhibited not only by the maximum or minimum extrema, and are calculated according to certain formulas.

In order to calculate the indicator of certain levels of need in its parameters to set any price it would be better if this price will correspond to some peak or trough, in order to calculate the maximum turned out true. Once the trader said the price of an extremum, will need to specify what levels you need to build, support and resistance , as well as the date from which to start draw the line, it would be better if this date will coincide with a candle (bar) where formed the very extreme trader said at the outset.


Once all parameters are specified, the indicator starts to calculate the levels. In order to calculate them, takes the price specified trader, the price is multiplied by 1000, after which, according to the rules of mathematics, rounding it to an integer, if you suddenly got a fractional number. Further, the resulting number, and root extract of this root subtract an increment, then the resulting number to be squared and divide by 1000. In the end we get a number that corresponds to the price chart indicates the instrument and the price at which one or the other is the horizontal level.

At first glance, these calculations may seem complex enough, but how does all of the above indicator, the user does not need to puzzle over all these formulas and calculations, but in the end we get a great result in the form of graphic levels of support and resistance on the chart for the chosen currency pair .

An indicator:

pric - the price level chosen by the trader;
s - a choice between the levels of support or resistance (if the "-1" , the levels are down, if "1" , the manager sees the top);
time1 - time and date on the chart, which corresponds to the bar, the level of which is specified in parameter "pric" .
The use of the trade:

trade along the lines of this indicator is no different from trading on any other horizontal levels, but before you open a trading position, we first need to determine the order which method you use, ie, to trade on the rebound, or the breakdown level. Initial stop and profit target could be the next level.

Download an indicator for MT4 Square 9