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Support Resistance Channel MT5

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Published: 28 March 2025

Current version: 1.0

Support Resistance Channel MT5

Name: Support Resistance Channel MT5
SKU: 135253

The Support Resistance Channel MT5 indicator plots dynamic support and resistance levels based on a configurable lookback period, displaying them as green and red lines respectively.

It optionally shows goldenrod-colored arrows when price touches these levels, indicating potential trend changes (not explicit buy/sell signals), along with customizable "RES" and "SUP" labels.

With adjustable parameters like lookback period, arrow size, and label offset, it offers traders a flexible tool to visualize key price levels and their interactions on the MT5 platform.

Settings:

1. **PeriodLookback**

Number of bars to look back for calculating support and resistance levels.

2. **BreakoutDistance**

Distance in points used to detect breakouts from support/resistance levels.

3. **ConfirmationBars**

Number of bars required to confirm a signal before displaying an arrow.

4. **SellArrowCode**

Symbol code for the sell arrow (default is a downward arrow).

5. **BuyArrowCode**

Symbol code for the buy arrow (default is an upward arrow).

6. **ArrowSize**

Size of the signal arrows (valid range: 1 to 5).

7. **ShowArrows**

Toggle to show or hide the buy/sell arrows.

8. **ShowLabels**

Toggle to show or hide the "RES" (resistance) and "SUP" (support) labels.

9. **LabelOffset**

Distance in points that the labels are offset from the support/resistance price levels.

10. **LabelFontSize**

Font size of the "RES" and "SUP" labels.

more...

Screenshot #1 Support Resistance Channel MT5

Screenshot #2 Support Resistance Channel MT5

Screenshot #3 Support Resistance Channel MT5

Screenshot #4 Support Resistance Channel MT5

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