Precision Support Resistance updated to version 7.2 Update Release
Please read this instruction carefully for new updated version (7.2 onwards). We had many customers not reading the instruction. If you don’t, of course, you are not capable of making the best use of our products.
In version 7.2 onwards, you can use two different mode for Support Resistance detection. You can control the mode using Auto Lock input.
Mode 1 (Auto Lock = true): less responsive to market change. This means that the support and resistance will be updated less frequently.
Mode 2 (Auto Lock = false): more responsive to market change. This means that the support and resistance will be updated more frequently. To make use of this feature best, you have to use Lock and unlock feature of each support and resistance levels. How to lock and unlock each support and resistance levels are show in the screenshot.
Why Mode 1 and Mode 2 is different ?
Understand the principle of that support become resistance once the price move below support. Likewise, the resistance become support once the price move above the resistance. This relationship is taking account in Mode 2. Therefore it is more responsive. Mode 1 (Auto Lock = true) does not take account for this (it will change colour but not the support and resistance level itself.).
When you are using Mode 2, it is better you should lock the tactically important support and resistance levels for your trading. To do so, just double click over the support and resistance line in your chart. To remove the locked levels, simply delete it by yourself from chart or just unselect the rectangle box then it will remove the box and other lines from your chart.
If you are consider yourself as the less tactical person, then just go for the Mode 1 (Auto Lock = true). Then you have to do less on locking and unlocking with the tactical levels. I personally prefer to trade only on certain support and resistance levels. But who know, you are doing something totally different. In that case, just go for Mode 1. Once your trading skills get better, then go for Mode 2 gradually according to your own preferences.
New update can be downloaded for mql5.com customers, for http://algotrading-investment.com customers and for ebay.com customers.