used by an indicator for determining support and resistance levels and we do not know when the indicator changes these levels either. Fortrader, suite 11, Second Floor, Sound Vision House, Francis Rachel Str. Accurate determination of the key support and resistance levels is very important in Forex trading. The chart shows that the moving average is located some time intervals away from the price level, but it does not show precise number of the time intervals. Unfortunately a trader cannot change setting of this parameter. If the price is within this channel, the moving average line will not change its color at the intersection of the lines and the indicator will not give a signal. In order to do it properly, a trader needs to analyze plenty of factors, which can be interpreted in a different way. We do not know how many time periods are analyzed; therefore, the indicator gives signals regardless of the trading method (aggressive or conservative) used by a trader. The signals, which come from both indicators simultaneously, can be considered as confirmed and strong signals. It should be noted that this indicator significantly differs from the other similar indicators, first of all because in addition to the moving average line, it has got support and resistance levels.
It is advisable to use this indicator together with oscillators determining overbought and oversold zones. The indicator Forex SunRise has been designed to facilitate this task, as the index draws support and resistance levels on the chart and based on these signals, it gives signals to enter the market. The indicator gives a signal when the price goes beyond the key levels and crossed the moving average. This task can be difficult for traders, who only recently start trading. Pros: This indicator can give a sound alarm or send a message to the email address specified by a trader upon registration on the trading platform, thus, giving a trader some information about the key trading moments without monitoring the chart all the time.