Fabii Memory Support Resistance
- Indicators
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Fabien Georges Andre Guillemaud
I develop custom indicators and trading tools for MetaTrader 5. - Version: 1.5
Stop guessing which support and resistance zones matter: each one shows how many times price tested it. No repaint.
Any pair, any timeframe. On your chart in 2 minutes. Free to test in the Strategy Tester.
Get more indicators here
Baselines, volatility filters and oscillators. No repaint.
Why you need it
You draw support and resistance by hand, and two traders never draw the same levels on the same chart. You do not know which levels deserve your attention. You place a stop behind a level that price never respected, and you find out only when it breaks.
What you get
Fabii Memory Support Resistance draws support and resistance zones from a rule and counts how many times price tested each one, so you stop guessing which levels matter.
- Every zone comes from a rule, not from your eye, so you and another trader see the same levels.
- Each level shows a touch count (for example x3) and a thicker line the more it is tested, so you see at a glance which levels price respected most.
- Green zones sit under price and red zones above. A broken level becomes a dotted grey line that stops on the bar where it broke, so your chart stays readable.
- Alerts for a new level, a break, a retest of a broken level and, if you want, a touch, so you do not have to watch the chart.
- Five buffers for your Expert Advisor: nearest support, nearest resistance, a strength score for each and the bar event, so you can build your own rules.
How it works
The indicator starts from the Memory Baseline, an adaptive moving average that stays nearly flat while price does not push it enough. When the baseline varies by less than 0.10 times the Average True Range (ATR) over at least 5 closed bars, that plateau becomes a level at the baseline value. It is a support if price closes above it and a resistance if price closes below it. A bar that closes beyond it by 0.25 times the ATR breaks it, and it stays as a dotted grey line up to that bar. A new level within 0.50 times the ATR of an existing one of the same type adds a touch to it instead of a duplicate. Levels use closed bars only.
How to use it
- Attach the indicator to any chart.
- Read the colors: green under price is a support, red above is a resistance, and the number after the price is how many times price tested it.
- Wait for price to reach a zone, then act only when a bar closes back away from it, with your stop on the other side of the zone.
- A grey cross marks a break. If price returns to that level, the retest alert tells you.
Key settings
| Setting | What it does | Default |
|---|---|---|
| Base MA period | Length of the moving average behind the baseline | 200 |
| Plateau minimum length (closed bars) | Bars the baseline must stay flat before a level exists; fewer bars give more levels | 5 |
| Break = close beyond level by x ATR | How far a close must go beyond a level to break it | 0.25 |
| Zone half-width / touch distance (x ATR) | Half-height of the zone and the distance that counts as a touch | 0.10 |
| Active levels shown (nearest to price) | How many levels are drawn, nearest first | 6 |
| Alert on new level / break / retest / touch | Choose the events, then pick popup, sound or push | Touch off; no channel on |
Other settings control colors, zones, labels, markers and the sound file.
Test it before you decide
No repaint is something you can check yourself. Let a bar close, then check that the Data Window values of the nearest support and resistance for that bar do not change. To test it: open the Strategy Tester, select this indicator and run it in visual mode on your pair and timeframe.
Updates are free and included. Every release is listed in the What's new section of this page, so you always know what changed.
Fabii Memory Baseline is a separate indicator that shows the baseline itself, with a higher timeframe overlay and its own alerts. Fabii Memory Distance Oscillator is a separate indicator that shows, in a sub-window, how far price is from the baseline. Follow my profile to be notified when new indicators are published.
Get it and see your first levels on your own chart. Fabii Memory Baseline adds the baseline line and a higher timeframe overlay.
Comments and reviews
Questions? Post a comment on this page or message me and you get an answer within 24 hours.
If this saves you time, a short review that says which pair and timeframe you use helps other traders find it.
Past results do not predict future results. This indicator does not provide financial advice.
