Ichimoku SuppRes AD Indicator

Ichimoku SuppRes AD Indicator

Ichimoku SuppRes AD Indicator For MT4 combines the Fractals with Ichimoku to plot forex support and resistance lines within a bullish or bearish price trend.

The Ichimoku SuppRes AD Indicator for MT4 plots support and resistance by combining the classic Ichimoku indicator with Fractals. As a result, the indicator provides multiple trading opportunities within a bearish or bullish market trend.

The indicator works well in all chart time frames. However, due to the nature of the fractals it provides intraday trading signals. So, this indicator is suitable for scalpers and intraday forex traders.

Ichimoku SuppRes AD Indicator For MT4 Trade Signals

The indicator plots red resistance lines and blue support lines, traders can also enable the fractals in the settings. For best trading results, traders can plot the Ichimoku indicator on chart together with this indicator.

The trading strategy is to enter the markets in the Ichimoku trend direction. If the Ichimoku trend is bullish and prices are above the cloud, traders should open buy trade if a resistance is broken. A stop loss should be placed below the previous swing low or if the next support is broken. However, traders should book profits with a good risk-reward ratio.

Similarly, if prices are below the Ichimoku cloud traders should look to open sell trades if price breaks a support. By entering the support and resistance breakout in the direction of the Ichimoku trend, traders can anticipate good trading results.

Conclusion
In summary, the Ichimoku SuppRes AD indicator for MT4 is an effective trading tool for scalpers and intraday traders using Ichimoku.