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KT Support and Resistance Levels

Use of support and resistance in systematic trading is very subjective. Every trader has their own idea and way to plotting the support and resistance levels on the chart. KT Support and Resistance indicator take out this ambiguity out of the situation and automatically draws support and resistance levels following an algorithmic approach using a unique multi-timeframe analysis.


When launched on the chart, It immediately scan the most significant extreme points across all the available timeframes and saves them for further analysis. A special algorithm then populates and iterates the stored extreme points for final selection.


This indicator plot four types of support/resistance levels:

  • Super Strong Levels: These levels are the most substantial levels among all. Price is very likely to respect "Super Strong Levels" and often bounce back after testing them.

  • Strong Levels: These are also substantial levels and price often respect them but not as much as their predecessor. If price breaks them with a significant margin, you can expect a continuation in the same direction.

  • Moderate Levels: If you are a day trader, you should keep an eye on these levels. Immediate trade entries around these levels should be avoided to prevent unnecessary losses.

  • Short-Term Levels: These are comparatively weaker levels plotted using a singular time frame analysis. If you are a day trader or scalper, you may use these levels to decide a stop loss and profit target.


Applications

  • Filter out bad trades by avoiding trade entries around a significant support/resistance level.
  • Automatically draw significant support and resistance levels using an advanced methodology and saves a ton of time every day.
  • Prevent stop hunting by institutional traders by placing the stop loss before or after a support/resistance level.
  • Include a multi-timeframe approach in your technical analysis without ever switching to a different time frame.


EA Developers

// This code will help you to import the support/resistance levels in your expert advisor. 

string super_strong_levels_name ="KT_SUP_RES_Super_Strong_Levels";
string strong_levels_name = "KT_SUP_RES_Strong_Levels";
string moderate_levels_name = "KT_SUP_RES_Moderate_Levels";
string shortterm_levels_name = "KT_SUP_RES_Short-Term_Levels"

for(int i=ObjectsTotal(); i>=0; i--)
{
 string object_name = ObjectName(0,i);
 if(ObjectType(object_name)!=OBJ_TREND)continue;
 
if(StringFind(object_name,super_strong_levels_name)>=0) 
​// fill super strong level array with ObjectGetDouble(0,object_name,OBJPROP_PRICE)if(StringFind(object_name,strong_levels_name)>=0) 
​// fill strong level array with ObjectGetDouble(0,object_name,OBJPROP_PRICE)if(StringFind(object_name,moderate_levels_name)>=0) 
// fill moderate level array with ObjectGetDouble(0,object_name,OBJPROP_PRICE)if(StringFind(object_name,shortterm_levels_name)>=0) 
// fill shorterm level array with ObjectGetDouble(0,object_name,OBJPROP_PRICE)
}

// The above code is almost similar for both MQL4 and MQL5 with some minor adjustments. 
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Scalper Pro Line
Remi Passanello
This indicator is part of the RPTrade Pro Line systems. Scalper Pro Line is a short trend indicator using Price Action. It's designed to be used by anyone, even the absolute beginner in trading can use it. NEVER repaints . Indications are given from close to close . Designed to be used alone , no other indicators are required. A specific graph shows you the profit and eventual drawdown according to history data. How does it work Scalper Pro Line is using an internal trend indicator combined wi
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Supreme Commander
Ramon Sobrevals Arce
💢💢 T he indicator of the indicators.  The Most Powerful Technique to Determine Forex Trend Strength in 2021. 💢💢 We have perfected Supreme Commander that it calculates an average of the selected indicators (up to 16) and the selected timeframe (all) with the result of a single trend that indicates the potential of buying and selling.  🌟 The main goal🌟 for this algorithm is to determine accurately the perfect moment to buy or to sell to achieve huge profitable movements. ⱱ The trading system
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Gann Dynamic Square Lite
Naveen Saroha
INTRODUCING WORLD'S FIRST MT4 & MT5  Gann Dynamic Square, Circle and Equilateral Triangle  To Analyze Markets Geometric Relationship. Gann Dynamic Square  has some of the most impressive features you will ever find in Gann & Geometric Analysis world. The Gann Dynamic Square is a tool to draw offset Square,Equilateral Triangle & Circle. Most charting software or MT4/MT5 market indicators don't have these features. You will be able draw your Geometric shapes like a professional geometric an
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SL Currency28 Pair Dashboard
Chalin Saranga Jayathilake
User Manual For more information pm me          https://t.me/SLStrength28pair   SL Currency28 Pair Dashboard is even used by the Banks to make profits. They take a strong currency and pitch against a weak currency This strategy i am made my other indicator SL Currency Strength Meter 28 Pair more  improvement We can easily study the financial strength of multi-faceted trading SL Currency28 Pair Dashboard strength meter which creates multiple charts in a single window based on the price action of
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FX Levels Indicator
Renaud Candel
FX Levels indicator is a very useful and powerful indicator to trade Forex and Binary Options. The purpose of the indicator is to draw levels that are turning points in the market. These lines show support and resistance levels and should be used as guideline to figure out possible turning points and targets. The indicator draws these levels analyzing the H1, H4, D1 and W1 timeframes. Levels can be customized (color, style, line width). Inputs Prefix - prefix used by broker (for instance if sy
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Elliott Wave Trend MT4
Young Ho Seo
Elliott Wave Trend was designed for the scientific wave counting. This tool focuses to get rid of the vagueness of the classic Elliott Wave Counting using the guideline from the template and pattern approach. In doing so, firstly Elliott Wave Trend offers the template for your wave counting. Secondly, it offers Wave Structural Score to assist to identify accurate wave formation. It offers both impulse wave Structural Score and corrective wave Structure Score. Structural Score is the rating to sh
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Versión 1.6 2020.11.22
- A minor change in the alerts text.
- Performance improvements.
- Source code optimizations.
Versión 1.5 2019.07.17
- improved the indicator execution speed.
- Added the alerts on a level touch.