Welcome here, unfortunately I am not the author of the indicator, so I have the .ex4 version only. However, the .ex4 version should work without any problems. Have you pasted the indicator following these steps? go to MT4 -> choose file -> open data ...

Simple, proven and profitable S/R system

Hello, if you trade intraday (M1, M5, M15) I would recommend you to watch the market as you would see better the momentum / Price Action of the market. If you want to open longer-term trades, than it is possible to set alarms in MT4 or maybe ...

Simple, proven and profitable S/R system

Correct, proven means stronger than verified, and by strong I am refering to verified support / resistance that is tested at least once. However, the indicator takes the S/R zone as tested only if the market closes inside the S/R zone and bounce. ...

Simple, proven and profitable S/R system

Hi hanover and welcome here! Thanks for your message, I think that this was definitely worth a sharing and feel free to post over this thread anytime I absolutely agree with using correlations together with S/R zones - I don´t have ...

Simple, proven and profitable S/R system

Here is a further clarification why I entered. image

Simple, proven and profitable S/R system

Hello and good morning everyone! Its nice to see how many traders interested this thread Lets start this day with fast scalp trade on USD/JPY image image

Simple, proven and profitable S/R system

Good job! I've tried to answer above.

Simple, proven and profitable S/R system

Welcome here Take a look at the post below yours - he describes it pretty well. Turncoat means if resistance is broken, the market goes down, bounce from the zone and go up again (resistance become support) and vice versa. As I am not the ...

Simple, proven and profitable S/R system

Hello and welcome here! In the simplest original version of the system I set the TP somewhere around 1 pips under the nearest resistance and above nearest support. It depends on your spreads here as I do this to ensure that TP will be executed even ...

Simple, proven and profitable S/R system

You are doing a very good job mate

Simple, proven and profitable S/R system

This is not correct. Take a look at my previous replies.

Simple, proven and profitable S/R system

Correct, take a look at this post. The market bounced there previously once, but open / close of candles were outside the S/R zone, thats why the indicator didn´t recognize it as a valid S/R zone. But it still can be a valid entry for me.

Simple, proven and profitable S/R system

As per the S/R zones drawing. Yes, the zones that are broken are removed as they are not actual anymore. We want to trade only strong / verified S/R zones and if one of the S/R zones becomes unimportant for future trading, it´s good to remove it. ...

Simple, proven and profitable S/R system

Wow, this is a very nice entry!!

Simple, proven and profitable S/R system

Thanks men it´s nice to see that other traders can learn a lot from my experience.

Simple, proven and profitable S/R system

I mostly trade lower intraday timeframes. When I watch bigger time frames, I usually trade the Correlation system - it is the second thread that I posted here at FF. But I am pretty sure that this trading strategy / approach will work on all time ...

Simple, proven and profitable S/R system

I would recommend all traders to read the first post and start from the beginning with the simplest version of the system... But there is an example of more advanced and more difficult way of trading. We had very nice verified support and the ...

Simple, proven and profitable S/R system

Hello and welcome here! Are the zones from the indicator? The indicator should tell you whether the S/R zone is weak / verified etc... The way how you entered is correct - with SL above the resistance to improve RRR. But the resistance zone in the ...

Simple, proven and profitable S/R system

Correct

Simple, proven and profitable S/R system

Hello, I use the systems separately, but the fact is that I use some principles of correlations in every trade. For example due to a high correlation of EUR/USD and GBP/USD, it is usually not wise to open the same trades both on EUR/USD and GBP/USD ...

Simple, proven and profitable S/R system