Full Description for TrueSR Multi TF Support Resistance

29 June 2020, 22:44
Behzad Movaghar
2
247

TrueSR Indicator: Multi TF Support Resistance alert and panel

Full Description of Parameters

MT5 Product Page: click here

MT5 Demo page: click here

MT4 Product Page: click here

MT4 Demo page: click here


TIMEFRAME FILTERS:

  • Alert this and bigger TFs: Get alert for timeframes >= selected timeframe
  • Exclude these TFs: Get alert only on selected timeframes (comma separated timeframes, E.g. M5,M15,H2,H6). You can mix this parameter with previous one.
  • Alert only these TFs: Get alert only on these timeframes (comma separated timeframes, E.g. M5,M15,H2,H6)
  • Minimum nested zones to trigger alert: Get alert when there is interaction with a zone on more than one TF at the same time. For example if you set this parameter=3, then alert will trigger only if there is at least 3 more timeframe that price has same interaction with them, for example in all timeframes price enters into support zone.
  • Number of neighbor TFs to ignore as nested (MT5 only): Sometimes there is similar interaction with support resistance zones in near timeframes (like M10 and M12 or H2 and H3). If you set this parameter bigger than zero then when indicator finds an interaction with a zone in a timeframe, it ignores the same zone(support, resistance) with the same interaction(enter, leave, break) in near timeframes as a nested zone. For example if you set this parameter=2 and price enters the support zone in M4, M5 and M6, only M4 will be counted as nested zone.


ALERT SETTINGS:

  • Alert Entering Zone: Alert triggers when price enters in a support or resistance zone (candle opens outside the zone and closes inside the zone)
  • Alert Leaving Zone: Alert triggers when price leaves a support or resistance zone (price turns back from the zone and candle opens inside the zone and closes outside the zone)
  • Alert Breaking Zone: Alert when price breaks a support or resistance zone (price goes through the zone and candle opens inside the zone and closes outside the zone)
  • Show Pop Up Alert Box: Show alert window when alert triggers, also alert sound will be played and message will be printed in terminal experts tab. In MT5 version when alert triggers, chart timeframe will change to alerted timeframe.
  • Printing Alert Sound File: If you set previous parameter to false, alert message only will be printed in terminal experts tab. In this case you can select an alert sound from files inside metatrader sounds folder.
  • Send Push Notification: Send push notification to mobile phone when indicator alert triggers. (You should set metatrader Notifications options)
  • Send Email: Send email when indicator alert triggers. (You should set metatrader Email options)
  • No alert when Algo Trading is disable: If true, then you can disable alerts by disabling "Algo trading" button of metatrader terminal. This is useful when you are running indicator on many charts and you want to disable alert for all of them at once.
  • Switch to Alerted Timeframe: If true, when alert triggers, the chart timeframe will switch to biggest alerted timeframe.


ZONE SETTINGS:

  • Find Weak Zones: If set to false, weak zones won't show in zone panel and alert won't trigger for them.
  • Find Untested Zones: If set to false, untested zones won't show in zone  panel and alert won't trigger for them.
  • Find Broken Zones: If set to false, broken zones won't show in zone panel and alert won't trigger for them.
  • Ignore Near Weak & Wide Zones: If set to true, weak and broken zones that their distance to next stronger zone is less than their width, won't be show on chart.
  • Indicator Related Settings: If you change these parameters there will be a slight change in zones, you can tweak them to see what works best for you or just leave them with default values.
  • Zone Extend: if set to true, EA goes dipper in history bars to find zones. The result will be more and sometimes wider zones.
  • Zone ATR Factor: Changes zone height based on ATR indicator values, less value means thinner and more accurate zones, but less chance to trigger the alert.


Candle Filters for Triggering Alert:

  • Minimum Candle Height: Get alert only if difference between high and low of the candle that deals with a zone (last closed candle) is >= this parameter (in points).
  • Bigger than all of previous candles: Alert triggers if difference between high and low of the candle that deals with a zone is bigger than all previous candles (check two following parameters)
  • Number of Previous Candles to Compare: Number of previous candles that must be compared with last candle to check if it is big enough or not.
  • Ratio of Candle Height to Previous Candles: How many times last candle must be bigger than previous candles to not consider as small candle. For example, if you set this parameter=1.2, then candle must be at least 1.2 times bigger than previous candles. If this parameter=1 then this candle must be just bigger than previous candles.
  • Bigger than average size of previous candles: Alert triggers if body (difference between close and open) of the candle that deals with a zone is bigger than average body of previous candles (check two following parameters)
  • Number of previous candles for averaging: Number of previous candles to use for averaging.
  • Ratio of candle height to averaging value: How many times last candle body must be bigger than average size of previous candles.


CHART SETTINGS:

  • Draw Zones on Chart: If set to false, zones won't show on chart. Doesn't affect map panel and alerts.
  • Show Zone Info Labels: If set to false, info labels won't show on chart.
  • Fill Zone with Color: If set to false, only borders of zones will draw on chart.
  • Width of Zone Border Lines: Size of zone border (If above parameter is false)
  • Style of Zone Border Lines: Style of zone border (solid, dash, dot ...)
  • Color of Info Label Text: Color of zone info label text
  • Zone colors: In last parameters you can change color of each zone as you want.


TrueSR Support and Resistance Bridge for Expert Advisors

TrueSR Bridge is a fast and lightweight version of TrueSR Support and Resistance indicator that you can use it in expert advisors for accessing the values of nearest S/R zones for all timeframes.

Graphical objects are removed in the bridge but all necessary options are preserved so you can control the specs of zones like in the main indicator.

How to use TrueSR Support and Resistance bridge in EAs

There is 6 buffer in the bridge that you can use in your EA to get info about nearest S/R levels. With this buffers you will have the upper and lower values plus strength (weak,broken,untested,verified,proven) of the nearest zones for all chart timeframes.

So in your EA you will have 6 buffer, 3 buffer for nearest resistance zone and 3 buffer for nearest support zone and each buffer has 9 value for 9 timeframe of MT4 (21 values for 21 timeframe of MT5), first value for M1 and the last value for MN1 timeframe. For example

resistance_high[]           // high price of nearest resistance zones for all timeframes
resistance_low[]            // low price of nearest resistance zones for all timeframes
resistance_strength[]       // strength of nearest resistance zones for all timeframes
support_high[]              // high price of nearest support zones for all timeframes
support_low[]               // low price of nearest support zones for all timeframes
support_strength[]          // strength of nearest support zones for all timeframes

The bridge will work only if you have an activation of "TrueSR support and Resistance" indicator in your metatrader. You don't need to run TrueSR indicator on your chart to use the bridge but TrueSR indicator must be in the list of indicators of your metatrader (in market folder).

Bridge doesn't work with demo version, after renting or buying the TrueSR support and Resistance indicator please send a message to me from mql5 website and I'll send the bridge and a sample EA (to see how to use the bridge) to you.

    You can test TrueSR Support Resistance indicator functionality by downloading free demo versions.

    If you have any question please ask in comments section of DEMO versions, I'll do my best to answer your questions.


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