Support resistance break
- Indicadores
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Allan Maurice Mwesigwa
Services i offer
- Develop fully automated MT5 Expert Advisors (EAs)
- Convert trading strategies into clean, maintainable MQL5 code
- Optimize strategies for low latency and high-frequency execution
- Implement advanced trade management systems (recovery, martingale, risk control) - Versão: 1.0
- Ativações: 5
Support & Resistance Breakout Indicator
This custom-built MT5 indicator automatically identifies key price levels where the market has historically reversed (support and resistance zones) and alerts traders when these levels are broken with conviction.
What it does:
The indicator scans price action to detect significant swing highs and lows, then draws dynamic support and resistance lines that extend forward until they're either replaced by a new level or broken by price. When a breakout occurs, the system evaluates whether it's a genuine move or a false signal by analysing volume strength and candle structure (wick patterns).
Key features:
- Automatic detection of pivot-based support and resistance levels
- Visual break signals filtered by volume threshold to reduce false breakouts
- Wick analysis to distinguish between genuine breaks and potential reversals
- Real-time alerts when key levels are breached
- Adjustable sensitivity parameters (left/right bars, volume threshold)
- Clean visual display with customisable colours and line widths
Trading application:
Traders can use this tool to identify high-probability breakout opportunities, set more informed stop-loss and take-profit levels, and avoid entering trades during low-conviction price moves.
