Market / MetaTrader 5 / Indicators /

Lines for MT5

30 USD

Demo downloaded: 418

Published: 18 June 2018

Current version: 1.1

Lines for MT5

Indicators
Radim Kucera
Version: 1.1
Updated: 25 June 2018
Activations: 5

Do you need to check support and resistance lines?

Do you need to find them really fast and automatically?

Do you want to set your own settings how to find them?

Then this indicator is your right choice!

Indicator Lines is developed for finding support and resistance lines on chart. It does its job quickly and fully automatically.

Main principle of algorithm is to get all extremes on chart (according to "Density" parameter). Then indicator tries to find minimally 3 points (according to "Minimal count of points" parameter) which can be used for calculation of support or resistance line. Finally there is applied linear regression for construction of lines.

Parameters

Density - how much in details to search in extremes. Bigger number means less details, smaller number means more details. Base unit is 1 bar on the chart.
History - how far to go in history while searching. When you set -1, the indicator processes all bars from history. Base unit is 1 bar on the chart.
Range - how far search support and resistance lines from given extreme. Base unit is 1 bar on the chart.
Minimal count of points - how many extremes is used for construction of lines.
Maximal deviation - Difference between perfect line and real line. Base unit is %.
Color, width, style of lines
Prolong lines to future - great feature for checking breaking lines in future
Show points of lines - if you want to see how the lines are constructed
Color of points
Your own prefix for object - in case you want to attach more Lines on same chart

Final line is constructed as linear regression from all found points.

more...

847

autovolk 2020.07.27 23:03 #

Super !

691

Leandro Henrique Lopes 2018.07.24 03:18 #

TOP!!!

623

mxp1 2018.06.26 09:04 #

Excellent indicator, 5 stars.

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Filter:

418

m1213 2023.03.30 17:16 #

Indicator does not work [error 538] and so absolutely useless. Need updating as it's in v1.1 since 2018!!!

11275

Reply from developer Radim Kucera 2023.04.12 11:01 #

What exactly does not work? Can you please share screenshot and settings?

847

autovolk 2020.07.27 23:03 #

Super !

691

Leandro Henrique Lopes 2018.07.24 03:18 #

TOP!!!

623

mxp1 2018.06.26 09:04 #

Excellent indicator, 5 stars.

Version 1.1 2018.06.25

v1.1 - Fixed bug with blinking when there was line's break on last bar.