Support and Resistance Level Crossings for Automated Entries

Summary

The document describes an expert advisor that trades support and resistance levels drawn by the user as trendline objects. The trader chooses trade direction graphically with arrows and selects between two trigger interpretations. In the move-from-level mode, a price crossing can open a position aimed at a move away from the level; in the crossing-level mode, the position is opened in the opposite direction. The stated examples define how an open price below a level affects the trigger, with opposite conditions applying to the other side.

Levels change color according to their angle, and a thin line indicates that the arrow selection is incompatible with the level. A horizontal level is created by positioning its second handle to the left of the first. The description explains setup and trigger behavior, but does not specify exits, position sizing, stop placement, execution assumptions, or test results, so it gives no evidence of profitability.

Key ideas

• The advisor uses trader-drawn support and resistance trendlines as entry levels.
• The user selects direction graphically and chooses whether trades follow or oppose a level crossing.
• The described trigger depends on the open price’s position relative to the level.
• Level angle affects its display, while an incompatible arrow setting marks the level as inactive.
• No exit logic, risk controls, or performance evidence is provided.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.