Automated dynamic support/resistance and supply and demand indicator on MT4
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We have now made two of our powerful indicators available on Meta Trader 4!
Our APA Elements Supply and Demand Indicator package, and the standalone indicator Price Action Failure!
APA Price Action Failure Overview
See Trade Entry Setups and Market Direction!
- Price Action Failure occurs when price shows us that it has failed to break a pivot point (swing point) such as a “Higher High” or a “Lower Low”.
- This happens by means of a price action movement that violates continuation of the current price direction.
- We will also call this proximal line a line in the "sand." When price closes beyond proximal line then we can say price has failed to do something and has made a market event.
How Does It Work?
- The structure is based on pivot points creation, and begins by identifying a new high or low.
- PAF entails a potential pivot point and then the maximum distance away from the potential pivot which, we will call the proximal line before price retests the extreme.
- When using the PAF indicator, we will see a red line or green line automatically appear to represent when and where price has rejected a pivot.