Support and Resistance Breaks MT5
- Indicatori
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Yan Zhen Du
With over 13 years of experience in live trading and developing algorithmic strategies, we are proud to offer some of the most powerful and reliable Expert Advisors (EAs) for MetaTrader 4 and 5. Our tools are carefully designed to analyze real-time market movements, adapt seamlessly to changing - Versione: 1.10
Support and Resistance Levels with Breaks is a MetaTrader 5 indicator designed to detect important support and resistance levels based on pivot points and identify price breaks with volume confirmation.
The indicator analyzes price movements around key market levels and highlights breakouts only when the volume condition is satisfied. This helps traders distinguish stronger price movements from low-volume level breaks.
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Main Features
Support and Resistance Detection
The indicator automatically calculates support and resistance levels using pivot-based calculations. These levels represent important areas where price has previously shown reactions.
Breakout Detection
When price breaks above a resistance level or below a support level, the indicator checks additional conditions before displaying a signal.
Volume Confirmation
A built-in volume filter evaluates market activity during breakouts. If the volume does not reach the specified threshold, the breakout signal is not displayed.
Wick Analysis
The indicator analyzes candle wick characteristics during break events. Wick information provides additional details about the behavior of price movement during a breakout.
Input Parameters
Left Bars
Defines the number of previous bars used for calculating pivot levels.
Right Bars
Defines the number of bars required to confirm pivot points.
Volume Threshold
Sets the minimum volume condition required for displaying breakout signals.
How to Use
The indicator can be applied to different symbols and timeframes. It can be used together with price action analysis, trend analysis, and breakout trading strategies.
Support and Resistance Levels with Breaks helps traders monitor market structure and observe price behavior around important support and resistance areas.
Important Notes
The indicator does not predict future price movements. Signals are generated according to the configured parameters and current market conditions.
