Market / MetaTrader 4 / Indicators /

SandwichSR

FREE

Published: 3 August 2023

Current version: 1.7

SandwichSR

Indicators
Jay Benedict Alfaras
Jay Benedict Alfaras
Philippines

1507
- mrkdanalytics.io
1 comment
Version: 1.7
Updated: 7 August 2023

GENERAL DESCRIPTION
Simple SR Projection based on selected instrument's historical data. Best used in conjunction with current market sentiment, and fundamental analysis. Currently limited to selected pairs due to of historical data to project accurate levels.

Generally, for support and resistance, 2 levels are drawn, respectively. The inner levels (R1,S1) project the highs and lows during the opening stages of selected time frame. The outer levels, represent the targets to reach during the closing stages of the selected time frame.(Hence, the name Sandwich)

Initially a personal research project which I've found to be useful in parallel with multiple technical analysis and fundamental analysis techniques.

Max Time frames for selected period:
1. Daily: H1

2. Weekly: D1

3. Monthly: W1

***NOTE: This product is consistently being improved and developed.

OTHER AVAILABLE FEATURES:

OHLC Plot (Selected time frame) - basic plotting of OHLC

FUTURE PLANS:

1. Alerts - Basic alerts when price is rejecting off of a level

2. Signals - Buy and Sell signals

3. Additional Instruments

4. TradingView Indicator

LIMITATIONS

Limited to few pairs due to lack of historical data. Currently limited to GBPUSD, EURUSD, AUDUSD, USDJPY, USDCAD, USDCHF, XAUUSD

Levels are calculated based on instrument's historical profile, price movements, and volatility.

Each asset is therefore considered unique from each other, and therefore requires extensive research individually.

Projected levels may vary based on broker data.

INSTALLATION INSTRUCTIONS

The indicator should be automatically installed under the MQL4/Indicators/Market folder, in which case, the program should work properly. You may access it from the indicators drop-down menu, or from the navigator.

If in case the program is installed in MQL/Experts/Markets, relocate the program to the Indicators Folder, otherwise, it will not work correctly.

1. Open Data Folder: File > Open Data Folder
2. Navigate to: MQL4 > Experts > Market
3. Move the file "SandwichSR.ex4" (Ctrl+X)
4. Place in the indicators folder: MQL4 > Indicators
5. Restart MT4

Once done, you may access the indicator from the indicators drop-down menu, or from the navigator.

Additional Support: https://t.me/b63_ph

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SandwichSR

Jay Benedict Alfaras