Market / MetaTrader 5 / Indicators /

Advanced Support and Resistance Indicator

FREE

Published: 4 May 2026

Current version: 2.2

Advanced Support and Resistance Indicator

Indicators
Volkan Karatepe
Volkan Karatepe
Company Owner at Cobalt Software

Türkiye

1536
Strategic Algotrading & System Architect
Version: 2.2
Updated: 4 May 2026

🚀 Cobalt Advanced Support & Resistance (S&R)

Your professional support/resistance and breakout assistant that catches the best price movements without cluttering your chart.

Tired of complex indicators that fill your chart with distracting vertical lines? Cobalt Advanced S&R automatically identifies the most critical support and resistance levels using Bill Williams' proven Fractal logic. Thanks to its "classic dotted" design, it allows you to reference historical levels without straining your eyes and works in perfect harmony with your other indicators.

Unlike ordinary S&R tools, this indicator, engineered by Cobaltsw, features a highly optimized system that doesn't drain your CPU, alongside an integrated "Volume Filter" to prevent false breakouts (whipsaws).

🔥 Highlighted Features

Clean & Classic Visuals: Displays support and resistance points as elegant dots (diamonds) rather than continuous lines that slice through the screen. You can read past S&R clusters much more clearly during live price action without visual noise.
High-Performance Engine: Unlike sluggish codes that scan the entire history on every tick, its optimized architecture only calculates new, incoming data. This ensures zero CPU overload, making it run flawlessly even when attached to multiple charts.
Smart Volume Filter: Measures the tick volume precisely at the moment of a support or resistance breakout. By filtering out low-volume "trap" breakouts, it only alerts you to strong moves that meet your specified volume threshold.
Advanced Alert System: Get instant notifications via Terminal (Pop-up), Email, or Mobile (Push) whenever a crucial level is broken.
Flexible Breakout Confirmation: Choose to look for breakout signals on the currently moving, unclosed candle (Current), or wait for the confirmed, safe close of the previous candle (Previous).

⚙️ Who is it for?

Ideal for Breakout traders, Price Action analysts, and any trader who wants to clearly see dynamic Stop-Loss/Take-Profit areas to manage their trades effectively.

🛠 Core Parameters

Alert Settings: Toggle in-platform, Email, and Push notifications as you wish.
Trigger Candle: Get breakout confirmation on the closed candle (Previous) or the live candle (Current).
Min Volume Filter: Set a minimum tick volume to prevent false breakouts (Set to 0 to disable).

Experience chart clarity and never miss an opportunity with Cobaltsw quality.

more...

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Advanced Support and Resistance Indicator

Volkan Karatepe

🔥 Highlighted Features

⚙️ Who is it for?

🛠 Core Parameters