My favorite broker ActivTrades offers to its clients SmartForecast, which allows traders to improve their trading.
This module is one of the most advanced technical analysis tools in MetaTrader4. By combining the options for percentage corrections of graphs and analysis of market trends, this indicator offers a simple overview of the markets.
SmartForecast automatically calculates short- and long-term levels of resistance and support. This instrument is also an indicator of volatility levels and market trends (trends). However, it is especially important that SmartForecast gives you a scenario for price development with three goals that change in real-time.
"Market Strength" - measures the current market volatility compared to the average market volatility.
"Daily Market Trend" - measures the strength of the market trend on a daily basis.
"Average Line" (Yellow) - This line represents the average values calculated from the last 100 values in the graph (long-term zero line) and the last 50 values in the graph (short-term zero line).
"Support Line" (Blue) - This line is calculated from the averaged values in the graph and represents the bottom line, the cost of the support. The long-term line is calculated based on the last 100 values in the graph. The short-term support line is calculated based on the last 50 values in the graph.
"Lines of resistance" (red) - This line is calculated from the averaged values in the graph and represents the upper line, the cost of resistance. The long-term line is calculated based on the last 100 values in the graph. The short-term resistance line is calculated based on the last 50 values in the graph.
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