Support Resistance Breakout Indicator MT4
- Indicatori
- Eda Kaya
- Versione: 2.1
Support Resistance Breakout Arrows (SRBA) Indicator MetaTrader 4
The Support Resistance Breakout Indicator (SRBAI) on MetaTrader 4 (MT4) helps identify pivot points and marks key support and resistance levels. Blue dashed lines represent support levels, while red dashed lines indicate resistance levels. When a support level breaks, the indicator issues a red downward arrow as a sell signal.
Conversely, when a resistance level is broken, a blue upward arrow appears as a buy signal.
«Indicator Installation & User Guide»
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Indicator Table
Indicator Categories | Support & Resistance - Signal & Forecast - Educational |
Platforms | MetaTrader 4 |
Trading Skills | Beginner – Intermediate - Advanced |
Indicator Types | Lagging - Breakout |
TimeFrame | M1 - M5 - M15 - M30 - H1 - H4 |
Trading Style | Scalper - Intraday - Day Trading |
Trading Instruments | Forex - Crypto - Stock |
Principles of Using the SRBAI Indicator
The SRBAI indicator is a useful tool for detecting support and resistance breakout zones. It automatically identifies these breakouts and generates buy and sell signals.
Breakout of Resistance Level
On the 1-hour chart of Gold (XAUUSD), if the red-marked resistance levels are broken, a blue buy signal is triggered.
Breakout of Support Level
On the 30-minute chart of the NASDAQ index (NAS100), a sell signal in red is issued when the blue-marked support levels are breached.
Indicator Settings
Traders can enhance signal accuracy by activating the RSI_CCI_Filter.
• RSI_CCI_Filter: Applies a filter using the RSI and CCI indicators.
• RSI_Period: Sets the period for RSI calculation.
• RSI_Overbought: Defines the overbought level for RSI.
• RSI_Oversold: Defines the oversold level for RSI.
• CCI_Period: Sets the period for CCI calculation.
• CCI_Buy: Specifies the CCI threshold for buy signals.
• CCI_Sell: Specifies the CCI threshold for sell signals.
• Alerts: Enables alert notifications.
• Alert_On_Close: Sends alerts after candle closure.
Conclusion
The Support Resistance Breakout Arrows (SRBA) indicator assists traders in market analysis by visually representing support and resistance levels on the chart. By integrating CCI and RSI filters, the SRBA indicator provides strong trading signals once important price levels are breached.