Market / MetaTrader 5 / Indicators /

Dynamic Support and Resistance Indicator for MT5

30 USD

Demo downloaded: 4

Published: 14 December 2023

Current version: 1.3

Dynamic Support and Resistance Indicator for MT5

Indicators
Tim Jeromin
Version: 1.3
Activations: 5

Description:

Unlock the power of precise trading with our Dynamic Support and Resistance Indicator for MetaTrader 5. Designed for both novice and experienced traders, this sophisticated tool offers an unparalleled edge in identifying key price levels in the market.

Key Features:

Customizable Lines: Easily set up to 5 support and 5 resistance lines. Customize them according to your trading strategy, whether for short-term scalping or long-term trend following.
User-Friendly Inputs: Adjust the price levels, colors, and thickness of each line directly from the indicator's input settings, allowing for seamless integration with your existing chart setup.
Real-Time Analysis: The indicator updates in real time, providing instant insights into potential barriers and breakthrough points in the market.
Clean Chart Removal: When the indicator is removed from the chart, all lines are automatically deleted, keeping your workspace organized and clutter-free.
Versatile Trading Tool: Suitable for various financial instruments including Forex, stocks, commodities, and indices.
Visual Clarity: Enhance your chart analysis with clearly defined support and resistance zones, helping you make informed decisions on entry and exit points.
Optimized for MT5: Specifically designed for the MetaTrader 5 platform, ensuring smooth performance and compatibility.

Please Note: To configure the price levels for this indicator, users are required to input the desired values directly within the indicator settings. It is important to be aware that these lines are not adjustable through drag-and-drop interactions on the chart; modifications can only be made by altering the price levels in the settings panel. This approach ensures precision and consistency in your trading strategy.

Benefits:

Improve Decision Making: By visually highlighting crucial price levels, make more informed trading decisions based on key market structures.
Enhance Your Strategy: Whether you're a day trader, swing trader, or long-term investor, integrate this tool into your strategy to identify high-probability trade setups.
Reduce Analysis Time: Quickly identify support and resistance zones without manually drawing lines, saving you time and effort in market analysis.

Who Is It For?

This indicator is ideal for traders who want to enhance their technical analysis with accurate support and resistance identification. It's a perfect fit for both beginners seeking to understand market dynamics and seasoned traders looking to sharpen their strategies.

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