KT Support and Resistance Levels

When launched on the chart, It immediately scan the most significant extreme points across all the available timeframes and saves them for further analysis. A special algorithm then populates and iterates the stored extreme points for final selection.

This indicator plot four types of support/resistance levels:

• Super Strong Levels: These levels are the most substantial levels among all. Price is very likely to respect "Super Strong Levels" and often bounce back after testing them.
  
  
• Strong Levels: These are also substantial levels and price often respect them but not as much as their predecessor. If price breaks them with a significant margin, you can expect a continuation in the same direction.
  
  
• Moderate Levels: If you are a day trader, you should keep an eye on these levels. Immediate trade entries around these levels should be avoided to prevent unnecessary losses.
  
  
• Short-Term Levels: These are comparatively weaker levels plotted using a singular time frame analysis. If you are a day trader or scalper, you may use these levels to decide a stop loss and profit target.

• Filter out bad trades by avoiding trade entries around a significant support/resistance level.
• Automatically draw significant support and resistance levels using an advanced methodology and saves a ton of time every day.
• Prevent stop hunting by institutional traders by placing the stop loss before or after a support/resistance level.
• Include a multi-timeframe approach in your technical analysis without ever switching to a different time frame.

// This code will help you to import the support/resistance levels in your expert advisor. 

string super_strong_levels_name ="KT_SUP_RES_Super_Strong_Levels";
string strong_levels_name = "KT_SUP_RES_Strong_Levels";
string moderate_levels_name = "KT_SUP_RES_Moderate_Levels";
string shortterm_levels_name = "KT_SUP_RES_Short-Term_Levels"

for(int i=ObjectsTotal(); i>=0; i--)
{
 string object_name = ObjectName(0,i);
 if(ObjectType(object_name)!=OBJ_TREND)continue;
 
if(StringFind(object_name,super_strong_levels_name)>=0) 
​// fill super strong level array with ObjectGetDouble(0,object_name,OBJPROP_PRICE)
​
if(StringFind(object_name,strong_levels_name)>=0) 
​// fill strong level array with ObjectGetDouble(0,object_name,OBJPROP_PRICE)
​
if(StringFind(object_name,moderate_levels_name)>=0) 
// fill moderate level array with ObjectGetDouble(0,object_name,OBJPROP_PRICE)
​
if(StringFind(object_name,shortterm_levels_name)>=0) 
// fill shorterm level array with ObjectGetDouble(0,object_name,OBJPROP_PRICE)
}

// The above code is almost similar for both MQL4 and MQL5 with some minor adjustments.