Sweet Spots Indicator MT5
- Indicators
- Eda Kaya
- Version: 1.5
Sweet Spots Indicator for MT5
The Sweet Spots Indicator for MT5 helps traders visualize key psychological price zones, often represented by rounded figures. These areas are commonly watched by market participants, including institutional traders, for setting stop-losses, profit targets, and entry triggers.
They appear on the chart as prominent and secondary levels, functioning as dynamic support and resistance lines.
«Indicator Installation & User Guide»
Sweet Spots Indicator Specifications Table
The following table outlines the technical specifications of the Sweet Spots indicator:
| Category | Support & Resistance – Price Zones – Analytical Tool |
| Platform | MetaTrader 5 |
| Skill Level | Beginner |
| Indicator Type | Trend Reversal – Continuation – Breakout |
| Timeframe | Compatible with all timeframes |
| Trading Style | Scalping – Day Trading – Swing Trading |
| Market | Multi-asset support (Forex, Crypto, Stocks) |
Sweet Spots Indicator at a Glance
The plotted zones provided by this indicator highlight market-sensitive price levels where reactions frequently occur. These can be ideal points for initiating trades, especially when paired with price action confirmation techniques.
Bullish Setup Example
On a 15-minute chart of Solana (SOL), the price approaches one of the predefined levels and starts ascending. The visual illustrates how the blue horizontal line behaves as a responsive support zone — offering an excellent buy trigger for momentum traders.
Bearish Setup Example
On the 30-minute timeframe of the NZD/USD currency pair, the blue line establishes itself as a resistance. After price tests this level, it reverses, forming a pin bar, followed by a bearish engulfing candle — a signal frequently used to anticipate downward price moves.
Sweet Spots Indicator Settings
Below is a summary of configurable parameters available within the Sweet Spots Indicator:
- NumLinesAboveBelow: Defines the quantity of plotted levels above and below current market price
- SweetSpotMainLevels: Sets spacing between major psychological levels
- LineColorMain: Adjusts the color of the primary level markers
- LineStyleMain: Sets visual style for the main level lines
- ShowSubLevels: Enables visibility for minor support/resistance zones
- Sublevels: Controls the gap between secondary levels
- LineColorSub: Customizes color for sub-level lines
- LineStyleSub: Selects the line pattern for sub-levels
Conclusion
The Sweet Spots Indicator for MT5 is a strategic tool in the trader’s arsenal, programmed to detect and display price-sensitive zones automatically. These areas frequently act as crucial support or resistance, providing actionable insights for both entry and exit strategies across all market conditions.
