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Indicators

Minimum / maximum support resistance zones - indicator for MetaTrader 5

Mladen Rakic
Views:
21162
Rating:
(31)
Published:
2020.10.31 16:23
MinMax SR.mq5 (8.23 KB) view
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This indicator is as simple as it gets :

  • it calculates a series of minimums over a certain period of bars
  • it calculates a series of maximums over a certain period of bars
  • then it uses such a minimum and maximum to get an average minimum to maximum state
  • a combination of multiple such "levels" are showing a "trend" and a possible support or resistance zones

Recommendations:

  • Use it as any other support resistance indicator









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