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Omega Support Resistance MT5

Demo downloaded: 10

Published: 20 December 2024

Current version: 1.6

Omega Support Resistance MT5

Indicators
James Erasmus
Version: 1.6
Activations: 7

Omega Support & Resistance

A unique indicator for buy low, sell high strategies

Reversal type entries, as price rises to the full length line, expect price to turn/swing/reverse

Can trade 1-5min charts with 4hr for interday setups or m15 and higher with daily, 1hr with weekly for long term setups

High precision future price predictor for high or low of any product for Weekly, Daily, 4hr and even 1hr charts

Best to use SonicR color bar indictor or similar to avoid entry at certain levels, watch the videos for how and why

MT4 version is free and so no support will be provided, only mt5 customers will receive support

Also see this video for standard usage of indicator: https://www.youtube.com/watch?v=uf7ydGso2Cc

<< Strategy >>

Buy at lower full length lines, sell at upper full length

Delay entry with opposite color candle

<< Steps >>

Attach indicator change input period_D1, then use 15min chart

(Period_4hr use 5min chart or lower)

Download SonicR PVA Candles from forexfactory or other site

Add to chart, these give color candles. Red and purple are range and volume downside risk.

So if looking to buy at or near full length lower lines (ignore short lines) then observe the red and purple bars, delay entry for 3 or 4 bars after

Each red or purple, this will help when price is pushing down hard, delay entry is the idea. Also if several bars/candles close over the line such as 5 then consider the

Full length line exhausted and price may fall lower to the next full length line.

Features

Unique support and resistance price levels

Limit to amount of days in history

Inputs to change lines, colors

Usage

This Indicator can be used solely for trading or in combination with other strategies

Providing high and low price levels for expected target and turning points, unique support and resistance -- see my videos for examples

This Indicator can be used with most asset groups, forex, commodities, indices etc

All time frames, non repaint, fast loading

When testing with MT5 simulator be sure to change input for ATR to less than 500

Color bar indicator is SonicR PVA Candles, I will try add to product list soon for now try find online

Important for trading and testing ***

Select Inputs timeframe: Daily when trading m10, m15, m30 chart

Select Inputs timeframe: 4hr when trading min 1-5

Select Inputs timeframe: 1hr when trading min 1-5

When setting up chart, sometimes changing time frames helps load the data, so change to 5 min then back to your desired time frame, perhaps a few other time frames until all levels can be seen on chart.

Some advice

Money management and discipline are key, no one strategy or indicator will produce success, understanding losses will occur and how to recover them is key. Some days are all about giving back to the market, making small wins or losses, then some days wins can roll in, its about consistency and patience. Know your trading products as best as possible, their pros and cons; are they volatile or do they produce small moves, lower time frames should be for low spread products. Understand trade size and always trade safe, risk more with a separate account if you have a strategy with that in mind. Practice and back testing makes a great trader.

Installation

Once downloaded the file will save automatically to indicators/market, drag and drop onto chart, adjust settings

Testing can be done with a demo - mt5 simulator for EA or indicators watch YouTube on how to test in mt5 simulator

*Using a color/volume indicator can show when to pause and not trade, search for SonicR PVA candles online -- be sure to use ATR 500 or less when testing

Updates

12 Mar 2023 - Added ATR value for inputs, change this to 500 or less for testing with simulator

more...

Screenshot #1 Omega Support Resistance MT5

Screenshot #2 Omega Support Resistance MT5

Screenshot #3 Omega Support Resistance MT5

Screenshot #4 Omega Support Resistance MT5

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Profit & Loss Display - MT5 Panel On chart panel to display profit and loss per product over specified time period View P/L for EA trades only or also with manual trades Note this is a panel, not an indicator or algorithm, it simply displays profit and loss from account history //---- Install ----// After download, attach indicator to chart from the markets folder which is in navigator window (Cntrl N) //---- Study ----// Set target profit for product per week/specified period Set loss limi

FTU Fibonacci This indicator draws fib levels for retracement type entry systems ** watch the video for strategy suggestion Features: Multiple Fibo levels adjustable Change color and amount of bars from range 2 lines for 50 bars prior high-low retracement and 2 lines for 20 bars Lines are showing 38 and 61 Fib levels Usage : Purpose is to study or measure price retracement Change color and amount of bars from range. Use on any timeframe, product/pair, non repaint, fast loading

FTU Idioteque The indicator is for MT4 platform, can be used alone but best combined with other indicators or strategies Combines various indicators such as macd, adx to draw an arrow for suggestion of entry or trend change Watch a short intro video on youtube: https://youtu.be/lCRJ3mFNyOQ Indicator Features: Sell and Buy arrows Visual and sound alert Trend continuation / Early trend change signal New features: Limit to amount of bars in history Change distance of arrow from bar Usage : Thi

FTU Auto Trade with on Chart Panel Mt5 (basic version) This EA will improve your trading, lower work load and improve risk management Adjust Lot size, entry based on at market or by price input EA will manage entry, stop loss, partial close and adjust stop loss after tp1, partial Designed to be compact and efficient, small layout for multiple chart trading Features: Lot groups - Allows for fast change to various risk models Tp, Partial and SL management Multiple No Trade Times - Various time i

Omega Support & Resistance A unique indicator for buy low, sell high strategies Reversal type entries, as price rises to the full length line, expect price to turn/swing/reverse Can trade 1-5min charts with 4hr for interday setups or m15 and higher with daily, 1hr with weekly for long term setups High precision future price predictor for high or low of any product for Weekly, Daily, 4hr and even 1hr charts Best to use SonicR color bar indictor or similar to avoid entry at certain levels, watc

35 USD

Trend Pilot Indicator for the mt5 platform, can be used solely for trading, best combined with other indicators Developed, tested and used with an EA/Algo with no issues. Products on chart arrow for entry signal or setup/entry with retrace Features: Sell and Buy arrows Visual and sound alert Trend continuation / Early trend change signal All time frames, non repaint, fast loading Usage: This Indicator can be used with most asset groups, low spread products can used min 5 timeframe and low

35 USD

FTU Fibonacci Retrace This indicator draws fib levels for retracement type entry systems An improved and more accurate version than the mt4 Study price movement, and use a retracement type strategy for entry at or near fib levels Features: Multiple Fibo levels adjustable Change color and amount of bars from range Usage : Purpose is to study or measure price retracement Change color and amount of bars from range. Use on any timeframe, product/pair, non repaint, fast loading

35 USD

FTU Auto Trade with Panel Mt5 This EA will improve your trading, lower work load and improve risk management Adjust Lot size, entry based on at market or by price input EA will manage entry, stop loss, partial close and adjust stop loss after tp1, partial Test on demo to be sure of all the features and inputs Special Features: This version includes price mode PRC, set a price for entry, no need to wait for MKT execution Features: Multiple No Trade Times - Various time inputs to stop the EA fro

70 USD

DeviationMAV - MT5 Deviation MAV (Moving Average) indicator A common indicator for trend analysis -- buy/sell on retrace to DevMav levels. Price Deviation from Moving Average or simply a Deviation indicator—is a technical analysis tool designed to measure the percentage or absolute distance between the current price and a selected Moving Average (MA). Its primary purpose is to identify, in real-time, when a financial instrument is overbought or oversold, indicating that the price has moved to

30 USD

Stargate Reversal - MT5 EA / Algorithm • Single trade system (no martingale, no grid) • ATR-based stop loss and take profit • Built-in recovery logic • Customizable NoTradeTime protection • Designed for low timeframe intraday trading Performance Rating: 4/10 This EA uses a recovery system which may require time to fully recover a loss. For best results traders should avoid high-impact news events and market open periods. //---- Install ----// After download, find product in markets f

35 USD

Bar Reversal Indicator - FTU Lenster MT5 A common reversal type bar analysis indicator -- inputs for unique observation Price reversal is a solid study for potential price moves. Price is testing or rejecting and area and its behavior to previous bars is telling of future price action. Combine with other indicators and price studies for your trading system. //---- Install ----// After download, attach indicator to chart from the markets folder which is in navigator window (Cntrl N) //---- S

30 USD

Newton Reversal - MT5 EA / Algorithm • Single trade system (no martingale, no grid) • ATR-based stop loss and take profit • Built-in recovery system • Low risk features such as max lot, notradetime and more • Designed for low timeframe intraday trading, m2-m5 Performance Rating: 6/10 With safe trading measures and a profitable fully automated EA this scores at 6/10 only low score due to low frequency of trades/wins. And some products especialy forex pairs not performing as well as no

40 USD

Memphis EA — Trend Continuation System Captures trend continuation entries with controlled exits Recovery System is currently manual, next version will have an auto feature which will improve results. Coming soon. Core Features No martingale, no grid Single-position logic for controlled exposure ATR-based stop loss and profit targeting Intelligent re-entry system aligned with trend direction Built-in exit protection (retrace + timed exit) Designed for low timeframe trading (M2–M5) Pe

40 USD

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