Support Resistance Profile MT4
- Indicators
-
Agus Santoso
DISCLAIMER ON : The author of EA will not be held responsible for your losses or problems of any kind if the EA is directly or indirectly responsible for any losses.
Our software is provided “as is”, without any warranty or condition of any kind, express, implied or statutory. - Version: 1.0
- Activations: 5
MQL5 Blogs : https://www.mql5.com/en/blogs/post/776740
MT4 Version : https://www.mql5.com/en/market/product/199000
MT5 Version : https://www.mql5.com/en/market/product/199001
SUPPORT RESISTANCE PROFILE [tambangEA] is an advanced market-structure indicator designed to identify, evaluate, and rank dynamic Support and Resistance levels using a combination of price structure, volume-profile analysis, volatility, rejection behavior, and level interaction statistics.
Unlike conventional Support and Resistance indicators that rely only on swing highs and swing lows, SUPPORT RESISTANCE PROFILE adds a profile-based validation layer to help distinguish ordinary pivots from potentially more relevant market reaction zones.
The indicator is designed as a market context and level-analysis tool, helping traders answer an important question:
Where are the most relevant areas for the market to react, reject, consolidate, or break?
It is suitable for Forex, Gold, indices, commodities, and other symbols supported by MetaTrader.
Main Features
Dynamic Support & Resistance
The indicator automatically detects important swing-based price levels and evaluates them using additional market information before displaying them as active Support or Resistance.
This helps reduce the number of insignificant levels that are commonly produced by basic pivot-based indicators.
Volume Profile Analysis
SUPPORT RESISTANCE PROFILE builds a rolling price profile across multiple price rows.
The profile is used to identify areas where market activity is concentrated.
The indicator also calculates the:
POC — Point of Control
which represents the highest-activity price area within the current rolling profile.
The POC may help identify:
- Balance areas
- High-interest price zones
- Potential mean-reversion areas
- Areas where price may consolidate or react
Profile-Guided Support & Resistance
One of the main characteristics of the indicator is its ability to refine raw swing levels using nearby profile nodes.
Instead of using a swing price mechanically, the indicator evaluates whether a stronger profile area exists nearby and can adjust the final Support or Resistance level toward that area.
This creates a more adaptive relationship between:
Price Structure + Profile Activity + Market Reaction
Multi-Factor Level Scoring
Each Support and Resistance level is evaluated using several components.
These may include:
- Profile node strength
- Local profile concentration
- Directional activity
- Distance from the original pivot
- Pivot volume
- Wick rejection
- Absorption characteristics
- Historical level interaction
The result is displayed as a numerical strength score directly on the chart.
This makes it easier to compare several active levels instead of treating every Support or Resistance as equally important.
Effective Score
A level does not remain equally important forever.
SUPPORT RESISTANCE PROFILE therefore uses an Effective Score that can adjust the relevance of a level as market conditions evolve.
The calculation can consider factors such as:
- Original level quality
- Age of the level
- Previous touches
- Rejection performance
- Current relevance
This helps reduce the influence of older levels that may no longer be as meaningful to the current market.
Level Ranking
The indicator also calculates a Rank for important Support and Resistance levels.
Ranking considers both:
- Level quality
- Distance from current market price
This allows the dashboard to identify the most relevant Support and Resistance rather than simply selecting the nearest horizontal line.
