Ichimoku Support Resistance Indicator

The IchimokuSuppRes indicator is a specialized algorithm for the MT4 trading platform. With the help of this algorithm, you can quite quickly assess the situation that has developed on the chart of the asset you have chosen for earning, and also identify the optimal places for creating successful positions.

The described algorithm uses fractals and the Ichimoku cloud to form support / resistance levels. The signals themselves are quite simple and intuitive, which makes it possible to effectively use the considered algorithm both for speculators with a certain trading experience and for beginners who are just getting acquainted with the foreign exchange market.

The IchimokuSuppRes indicator has a fairly high level of versatility, since the signals it generates maintain an acceptable level of accuracy on almost any time intervals and currency pairs. To download the IchimokuSuppRes indicator, use the link that you can see below.

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IchimokuSuppRes indicator. Optimization

The installation procedure for the described algorithm is extremely simple. Even if you are a beginner and do not have experience with similar algorithms, this process should not cause you any significant difficulties. After starting the described algorithm, a window with its parameters will appear in front of you.

The considered algorithm has the following parameters:

  1. “Tenkan-sen-period”. This parameter is responsible for setting the first curve included in the considered algorithm.
  2. “Kijun-sen-period”. In this field you can adjust the second curve included in the described algorithm.
  3. Senkou-Span-B-period. This parameter is responsible for setting the third curve, which is integrated into the considered algorithm.
  4. “Fractal-rank”. In this field you can specify the rank of fractals that the described algorithm will take into account in the process of carrying out all the necessary calculations.
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In fact, the described algorithm has a large number of adjustable parameters, but to ensure correct operation, it is sufficient to adjust only those mentioned above. Due to the fact that for the correct functioning of the algorithm under consideration, it is enough to optimize only 4 parameters, both a speculator with a certain trading experience and a beginner can easily cope with the process of its optimization.

Algorithm application

It is extremely simple to use the described algorithm to make money on the foreign exchange market. You just need to transfer the IchimokuSuppRes indicator to the chart of the selected asset and optimize it. Then you just need to wait for the next signal to appear and create a position in the desired direction.

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As soon as the price level of the selected asset bounces off the red line, you need to create a sell position. It is recommended to close this deal after the price approaches the blue level.

At the moment when the price level of the asset you are using to make money rebounds from the blue level, you need to create a buy position. This trade should be closed as quickly as possible after the price approaches the red line. The best option is to combine the described algorithm with additional algorithms that will act as a filter.

To learn how to correctly optimize and apply the described algorithm, use a demo account. Only after accumulating the necessary experience and skills in applying the considered algorithm, you can start trading for real money.

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