Trading Support and Resistance Breakouts with a Trailing Stop

Summary

This document describes an expert advisor that trades manually drawn support and resistance lines in either of two modes: entering after a retreat from a line or when price breaks through it. The trader places the lines with a chart trend-line tool. In retreat mode, a touch triggers a buy or sell depending on whether the bar opened above support or below resistance. In breakout mode, crossing the relevant line triggers an entry. As a trade moves toward profit, the advisor trails the stop-loss order.

The document also explains how line appearance indicates slope and whether its direction is compatible with the selected trade settings; a disabled line is not traded. It gives operational behavior rather than performance evidence: no rules for choosing levels, position sizing, exit targets, or testing results are provided. The method therefore depends on the trader’s line placement and settings, and the description alone does not establish that either entry mode is profitable.

Key ideas

• The advisor supports retreat entries at support or resistance and breakout entries through those levels.
• The trader draws the levels manually using chart trend lines.
• A trailing stop-loss follows price as a position moves toward profit.
• Line styling indicates slope and whether the selected trade direction is enabled.

Tags

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