Dynamic Balance Point Indicator
Platform: MT5 Type: Market Levels Last update: September 23, 2024The Dynamic Balance Point Indicator for MetaTrader 5 calculates the dynamic balance point for the desired period. Even though it is a sort of a multi timeframe indicator, it calculates the balance point without the usual issues that multi timeframe indicators have: the recalculation. The balance point is calculated correctly for the current timeframe and current timeframe chart values, hence there is no recalculation at all.
The balance point itself can be used as a sort of support/resistance indicator or for dynamic stop losses (if used for orders/positions management). In the case when it is lower than the current close price(s), consider it as a support. If the close price(s) is lower than the balance point, then use the balance point as a resistance.
