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Support Resistance MT5

Support & Resistance is an indicator for automatically constructing the strongest support and resistance levels and price zones.

Main advantages:

  1. It builds with the calculation of all extrema for the required period of time;
  2. One set of input parameters can be used for any financial instrument and timeframe;
  3. Opportunities to use both in manual and algorithmic trading.

Using the indicator in the "Ranger EA":

Version for MetaTrader 4: https://www.mql5.com/en/market/product/73011

A total of 5 copies of the indicator will be sold.

Christmas and New Year promotions: 

Price reduced to $7500. 

After the promotion ends, the price will return to $15000. 

Limited time offer.

Process:

This indicator constructs price zones and levels, following the following scheme:

  1. Calculation of local, intermediate and absolute extrema;
  2. Integration of extrema according to the weight of each extremum group;
  3. Calculation of zones that connect several extrema;
  4. Construction of levels by zones;
  5. Searching for the moments of crossing of price and level.

Operation:

  1. For manual trading, it is recommended to open positions from levels in the direction of the trend;
  2. For algorithmic trading, it is recommended to use indicator buffers indicating entry points;
  3. For more efficient use, familiarize yourself with the input parameters and do your own customization of the indicator.

Input parameters:

  • Display
    • Show arrows - display crossover arrows on the chart*
    • Show zones - show zones on the chart
    • Show levels - show support/resistance levels on the chart
    • Color zones - color of zones
    • Color levels - color of support/resistance levels
    • Levels construction type - the type of levels construction (you can choose from the drop-down list: closer to the current price / further from the current price / along the center of the zone / at the extremums) 
    • Zones future shift - shift the zones displaying by the number of bars into the future
  • Arrow Construction
    • Amount opens for direction - number of bar open prices for the price action behind the level
    • Open check start pos - starting bar open prices search position
    • Arrow draw vertical shift ATR coefficient - vertical shift of arrows
    • Start bar pos when finding extremum - start position for extremum search
  • Zone Construction
    • Extremum abs/prm/loc superiority - number of bars required for finding an extremum for 3 groups (abs - absolute, prm - intermediate, loc - local extrema)
    • Extremum abs/prm/loc weight - weight of each group of extrema
    • Threshold - threshold of the sum of identified extrema within one zone
    • Zones on one side amount - number of zones on one side of the current price (above or below)
  • Zone Height
    • Max height zone ATR coefficient - zone maximum height coefficient
    • Min height zone ATR coefficient - coefficient of the minimum zone height
  • History Void
    • If history void is reached distance ATR coefficient - if history maximum/minimum is updated, new resistance/support levels will be built considering the coefficient, specified in this parameter

Note: *Arrows show crossing of actual levels only and are not re-drawn. Therefore, they will appear as the indicator works. You can see this in the built-in MetaTrader strategy tester.

Warning on distribution.

You can only buy my Expert Advisors and indicators at mql5.com. If you see my products for sale on third-party resources, they are scammers and sell fake ones.

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New Upgraded   version 3.1   ,   The indicator is a *Multi timeframe oscillator that targets  the highest selling and lowest buying levels , a signal is indicated by the two lines crossing Compatibility : All tradable Currency pairs, Synthetic indices ,Metals,  Crypto, NASDAQ etc suitable for scalping and Swing trading, It can also be used as additional Confluence to enter a trade  when Price is at a significant level of supply and demand or Trendline touch  MT4/MT5 versions available ,get in to
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Golden Spikes Detector This indicator is based on an advanced strategy primarily for trading spikes on Boom and Crash Indices. Complex algorithms were implanted to detect high probability entries only. It alerts on potential Buy and Sell entries. To trade spikes on the Deriv or Binary broker, only take Buy Boom and Sell Cash alerts. It was optimised for 5-minute timeframe. Features ·          Sends push notifications to mobile phone ·          Pop up and sound alerts on computer or laptop ·     
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MT4 Version Available Here:   https://www.mql5.com/en/market/product/43555 Telegram Channel & Group :  https://t.me/bluedigitsfx V.I.P Group Access:   Send Payment Proof to our Inbox Recommended Broker:   https://eb4.app/BDFXOsprey *All In One System Indicator, Breakthrough solution for any Newbie or Expert Trader! The BlueDigitsFx Easy 123 System makes it easy to identify important areas of market structure. It alerts you to changes in market structure which typically occur when a revers
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Following the smart money is finally possible! FX Volume   is the FIRST and ONLY volume indicator   that provides a REAL insight into the market sentiment from a broker's point of view. It provides awesome insights into how institutional market participants, like brokers, are positioned in the Forex market, much faster than COT reports. Seeing this information directly on your chart is the real game-changer and breakthrough solution for your trading. Please read our basic tutorial ->   "Ho
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Tricky to find and scarce in frequency, divergences are one of the most reliable trading scenarios. This indicator finds and scans for regular and hidden divergences automatically using your favourite oscillator. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ] Easy to trade Finds regular and hidden divergences Supports many well known oscillators Implements trading signals based on breakouts Displays suitable stop-loss and take-profit levels Configurable oscilla
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Version 1.31 2021.12.25
Code optimization.