The Kg indicator for resistance and support is an indicator for MT4, which identifies areas on the chart. The indicator uses four lines of various hues to highlight levels of support and resistance. The colors include yellow, lime green, deep sky blue, and magenta.
By identifying key levels, traders can determine which direction is trending. This indicator is most effective for shorter timeframes. This makes it suitable for traders who scalp or trade in the in the short term.
Kg indicator of resistance and support signals for buy/sell
To determine the buy or sell indicators, investors have to identify the support and resistance levels. The indicator draws different colored lines to indicate levels. There isn’t a strict standard that requires the indicator to draw particular color lines.
When an indicator draws lines within an uptrend, it will indicate resistance levels. In this case, traders must make short-term moves or leave long ones. In contrast, when the indicator draws lines in the direction of a downtrend, it indicates areas of support, and traders need to take long positions. The traders can also use the indicator in conjunction with other indicators, such as RSI or MACD, to confirm the signal.
Conclusion
The Kg indicator for resistance and support uses four distinct hued lines to indicate levels of support and resistance. With those levels, traders are able to determine trends and directions. You can also download the indicator at no cost on our website.
