THV Key SRs and Trendlines
- Indicatori
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Trong Khanh Phan
About Me:
I am a professional trader and MQL5 developer with years of experience creating automated trading systems and indicators for the global trading community. My focus is on building reliable, efficient, and easy-to-use tools for traders of all levels. - Versione: 1.0
- Attivazioni: 5
THV Key SRs and TrendLines MT5
Automatically Identify Key Swing Highs, Swing Lows, Support, Resistance, and Trendlines on MetaTrader 5.
THV Key SR and Trend Line MT5 is a technical analysis indicator designed to help traders identify important market swing points and visualize potential support and resistance levels.
The indicator detects Key Highs and Key Lows using a configurable Pivot setting, draws optional support and resistance lines, and connects recent swing points with upper and lower trendlines.
With customizable colors, line styles, swing labels, and timeframe selection, you can adapt the indicator to your preferred chart setup and trading strategy.
Key Features
1. Automatic Key High and Key Low Detection
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Automatically identifies swing highs and swing lows using the selected Pivot value.
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Adjust the Pivot setting to control swing detection sensitivity.
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Use the detected swing points to study market structure and potential turning areas.
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Display optional high and low arrows on the chart.
A larger Pivot value generally requires a more significant swing to qualify, while a smaller value can identify more frequent swing points.
2. Automatic Resistance Lines
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Display horizontal resistance lines based on detected Key Highs.
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Configure the number of resistance levels to display.
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Customize resistance line colors and styles.
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Enable or disable resistance lines independently.
These levels can help traders monitor areas where price previously formed swing highs.
3. Automatic Support Lines
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Display horizontal support lines based on detected Key Lows.
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Configure the number of support levels to display.
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Customize support line colors and styles.
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Enable or disable support lines independently.
Use these levels as references when analyzing potential price reactions, pullbacks, and market structure.
4. Automatic Upper Trendlines
The indicator can connect detected swing highs to visualize potential descending or ascending resistance structures.
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Display or hide upper trendlines.
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Select which swing-point combinations should be connected.
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Customize trendline colors and line styles.
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Extend trendlines to the left or right using ray settings.
You can independently enable or disable connections such as Swing 1–2, Swing 1–3, Swing 2–3, and other available combinations.
5. Automatic Lower Trendlines
The indicator can connect detected swing lows to visualize potential support structures.
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Display or hide lower trendlines.
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Choose the swing-point combinations to connect.
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Customize colors and line styles.
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Configure left and right ray extensions.
This provides a flexible way to visualize multiple trendline possibilities based on recent swing structure.
6. Numbered Swing Labels
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Display numbered labels above detected swing highs.
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Display numbered labels below detected swing lows.
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Customize label font size and colors.
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Adjust the vertical offset to prevent labels from overlapping candles or other chart objects.
The numbering helps distinguish the most recent detected swing points from earlier ones and makes trendline combinations easier to follow.
7. Flexible Timeframe Selection
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Calculate swing points using the current chart timeframe.
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Select a different timeframe through the DrawTF setting.
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Analyze market structure from a timeframe other than the one currently displayed.
This allows traders to examine higher-timeframe swing structures while working on a lower-timeframe chart.
8. Customizable Chart Appearance
Configure the indicator to suit your trading environment:
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Enable or disable support and resistance lines.
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Show or hide upper and lower trendlines.
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Select individual trendline combinations.
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Customize colors and line styles.
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Adjust swing labels and their positions.
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Choose the number of support and resistance levels to display.
How Can You Use This Indicator?
THV Key SR and Trend Line MT5 can support several price-action analysis approaches:
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Market structure: Identify recent swing highs and swing lows.
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Support and resistance: Monitor historical swing levels as potential reaction zones.
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Trendline analysis: Visualize connections between multiple swing points.
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Breakout analysis: Watch for price movements beyond established support, resistance, or trendlines.
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Pullback analysis: Use swing levels and trendlines as references when evaluating retracements.
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Multi-timeframe analysis: Study swing structures from a selected timeframe.
The indicator can be combined with candlestick patterns, moving averages, volume analysis, or your own trading strategy.
Important Notes
This indicator is an analytical tool and does not execute trades or guarantee profitable results.
Swing points are identified using the configured Pivot value, so a swing is only confirmed after the required bars on both sides are available. Recent chart structures may therefore develop differently as new price data arrives.
Support, resistance, and trendlines represent potential areas of interest rather than guaranteed price reversal levels. Always apply appropriate risk management.
Conclusion
THV Key SR and Trend Line MT5 combines automatic swing detection, support and resistance levels, multiple trendline combinations, and numbered swing labels in one customizable indicator.
It helps traders visualize market structure and analyze important price levels directly on MetaTrader 5.
Happy Trading !
