• Overview
  • Reviews (6)
  • Comments (26)

MQLTA Support Resistance Lines

MQLTA Support Resistance Lines is an indicator that calculates the historical levels of Support and Resistance and display them as Lines on chart. It will also Alert you if the price is in a Safe or Dangerous zone to trade and show you the distance to the next level. The indicator is ideal to be used in other Expert Advisor through the iCustom function.

This indicator can be tested LIVE on AUDNZD with the following DEMO https://www.mql5.com/en/market/product/26572


How does it work?

The indicator has a complex algorithm that scans the chart to detect previous levels of consolidation and bounce of the price, which will likely act as support and resistance levels in the future.


How to trade with Support and Resistance indicator

More than an entry point indicator, Support and Resistance is ideally used as a warning sign to trade, or for scalping. If the price is close to a level of support or resistance this will have to be treated carefully as the price might bounce back or break the level.


Custom indicator and Expert Advisor

One of the problems faced by programmers of Expert Advisors and indicators is the detection of levels of support and resistance so that an EA can use the levels to stop trading or set TP and SL.

MQLTA Support Resistance Lines can be easily integrated in other indicators and Expert Advisors through the use of the iCustom function.

The indicator can return:

  • The 8 closest levels of support/resistance
  • The flag if the price is near a level
  • The first level above the price
  • The first level below the price
  • The distance between the price and the above level
  • The distance between the price and the below level


Parameters

  • Timeframe to Analyze - Choose the timeframe for the analysis of support and resistance levels
  • Number of Levels - Choose if you want to display more or less levels
  • Safety Distance - Minimum points of distance between the price and the closest level to consider the price in a Safe Zone
  • Fill Buffers With - Choose what to fill the buffers with, used for integration in indicators and EAs
  • Recent Candles to Ignore - Specify the number of recent candles to ignore in the analysis
  • Bars to Analyze - Number of bars to analyze to calculate the levels
  • Max Price Range to Analyze - Max range of price to analyze
  • Enable Notifications - To enable or disable the notifications
  • Notify in - To set if notify in Safe or Dangerous Area
  • Notification Internal - Specify the minimum interval between notifications
  • Send Alert Notifications - To enable or disable on screen alerts
  • Alert Sound - To select the alert sound
  • Send Notification to Mobile - To enable or disable the app notifications
  • Send Notification to Email - To enable or disable email notifications
  • Draw Lines - To enable or disable the display of lines
  • Resistance Color
  • Support Color
  • Line Thickness
  • Draw Window - To enable or disable the drawing of the window
  • Horizontal spacing - distance of the window from the left border
  • Vertical spacing - distance of the window from the top border
  • Indicator Name - Prefix of the objects on chart

If you like this tool please take a minute to leave a review.

If you have suggestions to improve it please send me a message and we can discuss it further.

Feel free to visit my profile and "Add to friends" https://www.mql5.com/en/users/mql4autotrading.

Reviews 6
Ken Parise
57
Ken Parise 2020.12.26 14:37 
 

MoneyTreeString is a great indicator, but I have found that using MTS along with MQLTA Support/Resistance Lines and Stochastic indicators I get good confirmed entry points. I am running on the M1 chart, I am using 12,3, and 0 for MTS setting and 10, 6, 6, for the stochastic. Will update as needed.

Alex
600
Alex 2020.11.22 15:35 
 

I can say this indicator absolutely suits my trading system as I'm a swing trader and reversal trader! Super useful!

dcherry
1366
dcherry 2018.03.22 21:54 
 

Worth more!

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CURRENTLY 20% OFF !! ⭐⭐⭐⭐⭐  Best Solution for any Newbie or Expert Trader! This Indicator is specialized to show currency strength for any symbols like Exotic Pairs Commodities, Indexes or Futures . Is first of its kind, any symbol can be added to the 9th line to show TRUE CURRENCY STRENGTH of Gold, Silver, Oil, DAX, US30, MXN, TRY, CNH etc. This is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a new formula. Imagine how your
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PipFinite Breakout EDGE
Karlo Wilson Vendiola
The Missing Edge You Need To Catch Breakouts Like A Pro. Follow a step-by-step system that detects the most powerful breakouts! Discover market patterns that generate massive rewards based on a proven and tested strategy. Unlock Your Serious Edge Get it here ► www.mql5.com/en/blogs/post/723208 Have access to the game changing indicator that will take your trading to the next level! How To Trade Execute your trades in 3 Easy Steps! Step 1: Trade Setup Enter a signal if Success Rate is
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MA Crossover Scanner
Che Jeib Che Said
Moving Average Crossover Scanner   This Scanner scans two moving averages(MA) crossover  across multi-currency pairs and multi-time frames and shows all the result in  the dashboard. 1. The fast MA is about to cross up the slow MA - designated as "XUP". 2. The fast MA is about to cross down the slow MA - designated as "XDN". 3. The fast MA has just crossed up the slow MA - designated as "UP". 4. The fast MA has just crossed down the slow MA - - designated as "DN". Input parameters can be changed
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Bermaui Bands
Muhammad Elbermawi
⭐⭐⭐⭐⭐ Bermaui Bands (BB) is a technical analysis tool that helps filter between ranging and trending price movements. The idea behind this indicator can be explained in the next steps: Calculate Standard Deviation as an oscillator that moves between 0 and 100. I will name it Bermaui Deviation percent (BD %). If "BD %" is near zero then volatility is at its extreme. In addition, if "BD %" is near 100 then volatility is very low. High volatility means a great probability for a trending market, whi
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Stochastic Global
Igor Semyonov
Description A universal colored indicator Stochastic. The rising and falling lines and the levels of the indicator can be colored.   The indicator can be calculated as the standard one on the basis of a price or as a derivative on the basis of the following nineteen other indicators included in the standard package of the MetaTrader 4 terminal: AD - an indicator of accumulation and distribution of volume. OBV - On Balance Volume. Volume - tick volume indicator. AC - indicator of acceleration. AO
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PipFinite Exit EDGE
Karlo Wilson Vendiola
Did You Have A Profitable Trade But Suddenly Reversed? In a solid strategy, exiting a trade is equally important as entering. Exit EDGE helps maximize your current trade profit and avoid turning winning trades to losers. Never Miss An Exit Signal Again Monitor all pairs and timeframes in just 1 chart ► www.mql5.com/en/blogs/post/726558 How To Trade You can close your open trades as soon as you receive a signal Close your Buy orders if you receive an Exit Buy Signal. Close your Sell orde
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Trend Screener
Sayadi Achraf
⭐️   ⭐️   ⭐️     ⭐️   Trend Screener EA is available for Free to our customers who   Trend Screener Pro version ⭐️⭐️⭐️   ⭐️ Trend Screener EA =>      https://www.mql5.com/en/market/product/59696 Trend Screener EA   is an Expert Advisor designed specifically to trade as multi-currencies and multi-timeframe EA. The operation is based on opening orders using the Trend Screener   indicator, this the EA works according to the "Trend Follow" strategy, which means following the trend and trading
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MQLTA Instrument Details shows you in an easy to read in chart table the details about the instrument/Symbol, including: Label Trade Mode Default Contract Size Minimum Size Maximum Size Size Step Digits Used Tick Size Tick Value Stop Level Bid Ask Spread Parameters Indicator name to create the objects Default Window when opening the indicator Horizontal offset Vertical offset If you like this tool please take a minute to leave a review. If you have suggestions to improve it please send me a me
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Auto Close is an expert advisor that can assist you with your money and risk management rules. The EA can monitor your Balance, Equity, Margin, Global Profit and Global Loss and alert you in case any of these reaches a specified threshold. This Demo Version has Notification and Close features disabled, full version can be found https://www.mql5.com/en/market/product/29141 How does it work? Load the Auto Close EA in the chart and set the parameters you want to keep monitored. If any of the risk
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Filter:
William Veraar
210
William Veraar 2017.12.13 22:01 
 

Very effective.

I use it on the 1h chart and set the 4h levels at lowest amount of levels.

I also use it on the 4h chart and set the 1day levels at lowest amount.

It works.

dcherry
1366
dcherry 2018.03.22 21:54 
 

Worth more!

Almarshad Saleh
194
Almarshad Saleh 2020.08.10 01:23 
 

not good dont buy

Alex
600
Alex 2020.11.22 15:35 
 

I can say this indicator absolutely suits my trading system as I'm a swing trader and reversal trader! Super useful!

brightstar1
690
brightstar1 2020.11.29 20:05 
 

The product deserves 5+ stars. It makes me feel like forex is a baby game. However, replies from seller are received 2-3 days after you send the message. If customer service is good, I would have given it solid 5 stars.

Ken Parise
57
Ken Parise 2020.12.26 14:37 
 

MoneyTreeString is a great indicator, but I have found that using MTS along with MQLTA Support/Resistance Lines and Stochastic indicators I get good confirmed entry points. I am running on the M1 chart, I am using 12,3, and 0 for MTS setting and 10, 6, 6, for the stochastic. Will update as needed.

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