SNR simple by SADAM

This custom Support and Resistance Indicator with Signal Arrows is designed for MetaTrader 5 (MT5) to help traders identify key price zones and potential reversal points in the market. It combines classical support and resistance detection with smart signal generation for better trading decisions.

🔍 Key Features:

• Automatic Support & Resistance Detection:
  The indicator scans historical price data within a defined lookback period to identify swing highs (resistance) and swing lows (support) using sensitivity logic.

• Signal Arrows for Entry Points:
  When price touches a valid support or resistance zone with confirmation (based on close price proximity), the indicator draws a Buy arrow (green) near support or Sell arrow (red) near resistance.

• Touch Tolerance Filter:
  A customizable TouchTolerance parameter helps avoid clutter by filtering out nearby or redundant zones—ensuring only unique and clean levels are drawn.

• Visual Lines for Zones:
  Support and resistance levels are drawn using dashed horizontal lines for clear visibility. Support lines are green; resistance lines are red.

• Optimized to Draw Only Key Zones:
  Built-in logic ensures the chart doesn’t become overloaded with lines, showing only the most significant zones (typically 5–10 lines).

⚙️ Inputs:

• LookBack — Number of candles to analyze.

• Sensitivity — Number of candles on each side to confirm a swing point.

• TouchTolerance — Distance in points to consider a price as touching an existing level.

✅ Use Cases:

• Ideal for intraday or swing trading strategies.

• Helps spot reversal zones for better entry timing.

• Works on all timeframes and currency pairs.