Discussing the article: "Price Action Analysis Toolkit Development (Part 67): Automating Support and Resistance Monitoring in MQL5"

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Check out the new article: Price Action Analysis Toolkit Development (Part 67): Automating Support and Resistance Monitoring in MQL5.

This article implements a complete MQL5 Expert Advisor that monitors manually drawn support and resistance levels in real time. It synchronizes horizontal lines, detects approaches, touches, breakouts, reversals, and retests, and adds optional candlestick pattern checks. Alerts and on‑chart markers provide clear, repeatable feedback, allowing you to keep manual analysis while automating the surveillance of key price levels.

Horizontal support and resistance levels are widely used in price action trading to mark areas where the market is likely to react. Traders draw these levels manually to support decisions such as entries, exits, and risk management. Once placed on the chart, these levels remain static. Price continues to move, but the trader must constantly observe the chart to detect interactions such as touches, breakouts, or reversals. In fast or multi-chart environments, this continuous monitoring becomes difficult, and important movements can be missed.

The limitation is not support and resistance itself. It is the lack of an automated mechanism to track real-time price interaction with manually defined levels. This article presents an MQL5 Expert Advisor that monitors manually drawn horizontal levels in real time. It detects key interactions as the market develops. By the end of this article, you will have built an Expert Advisor that monitors manually drawn support and resistance levels in real time. It detects touches, breakouts, reversals, and retests, and generates structured alerts and chart-based signals.

Author: Christian Benjamin