Automated Support Resistance Screener
This is one of the best support and resistance indicators in mql5.com because this indicator is very accurate and simple.
You can try this indicator to test how accurate this indicator is and compare it with other similar indicators.
Automated Support Resistance Screener (ASRS) is an support resistance indicator also indicator level that can be used to determine the level of support and resistance values.
ASRS is used for the Metatrader 4 platform which is built using the MQL4 programming language.
This indicator is able to work well in H1 and bigger time frame but most recommended using this indicator for daily trading.
It is also suitable for all markets such as indices, forex, etc.
ASRS is able to work intelligently and accurately by determining and screening the most appropriate or the best support and resistance values in a price ranges.
Special calculations developed based on artificial intelligence (AI) research are added to this indicator so that why this indicator is able to work intelligently, uniquely and also has complex algorithms.
This indicator can be used by both newbie traders and professional traders.
1. History Bars
2. Divisor value
The divisor value divides the range of each buffer.
For example if this indicator uses a divisor value of 100, then there are 800 line positions that can be occupied by the buffers and only the best positions are occupied.
1. Color Buffers