S and R Candle MTF
- Indicatori
- Aiman Saeed Salem Dahbag
- Versione: 1.0
S&R Candle MTF
S&R Candle MTF is a simple technical indicator designed to display support and resistance levels based on previous candle highs and lows from a higher timeframe.
The indicator automatically reads candle data from a selected higher timeframe and plots horizontal levels directly on the chart. Each level represents the High and Low of previous candles, helping traders quickly identify important price zones where the market may react.
To improve visual clarity, the indicator automatically classifies levels depending on their position relative to the current price:
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Levels above the current price are displayed as resistance.
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Levels below the current price are displayed as support.
The price value of each level is also shown next to the line, making it easier for traders to read key levels without using additional tools.
Key Features
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Displays support and resistance from higher timeframe candles
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Multi-Timeframe (MTF) capability
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Shows exact price values next to each level
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Automatically updates with new candles
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Clean and lightweight design
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Works on any symbol and timeframe
Inputs
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Number of previous candles to analyze
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Higher timeframe selection
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Line colors and width
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Font size for price values
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Option to show or hide level prices
Usage
This indicator can help traders quickly visualize important price zones derived from higher timeframe candles. These zones may be useful for analyzing potential support and resistance areas, price reactions, or market structure.
The indicator does not generate trading signals and should be used as a visual analytical tool alongside other analysis methods.
Limited Time Offer: This indicator is currently available for free.
