Forex BUY and SELL signals from the best Kg support and resistance indicator. Detect support and resistance levels.
The Kg support and resistance indicator is an MT4 indicator that identifies levels on the chart. The indicator draws four lines of different colors to pinpoint support and resistance levels. These colors include lime green, yellow, deep sky blue, and magenta.
By identifying key levels, traders can find out the direction of the trend. The indicator works best on shorter timeframes. So, it is suitable for scalpers and short-term traders.
Kg support and resistance indicator BUY/SELL signals
The above GBP/USD M15 chart shows BUY and SELL signals with the indicator. To determine the BUY and SELL signals, traders must locate support and resistance levels. The indicator draws different color lines for levels. There is no hard-and-fast rule that the indicator draws specific color lines.
When the indicator draws lines in an uptrend, it mentions resistance levels. Here, traders need to take short positions or exit long ones. Conversely, when the indicator draws lines in a downtrend, it identifies support levels, and traders should enter long. Traders can also apply the indicator with other indicators like the RSI or MACD for further signal confirmation.
The Kg support and resistance indicator draws four different color lines to indicate support and resistance levels. Through these levels, traders can detect the direction of the trend. In addition, you can download the indicator for free from our website.