Nova Dynamic Support and Resistance Indicator
- Индикаторы
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Ferry Nijland
NOVA — Next-generation Optimized Visual Analysis
My name is Ferry Nijland, developer of the NOVA product line for MetaTrader.
NOVA focuses on practical and easy-to-use trading tools with clear market visualization, reliable functionality and a clean chart experience. - Версия: 1.0
- Активации: 5
Nova Dynamic Support and Resistance Indicator is a clean and easy-to-read market analysis tool for MetaTrader 4.
The indicator automatically identifies three dynamic resistance levels and three dynamic support levels based on different historical lookback periods.
Each level adapts to the selected chart timeframe and helps traders visualize both short-term and long-term market structure.
MAIN FEATURES
• Three dynamic resistance levels: R1, R2 and R3
• Three dynamic support levels: S1, S2 and S3
• The lines can naturally converge and overlap.
• Three dynamic support levels: S1, S2 and S3
• Automatic settings for every supported timeframe
• Manual lookback and slope settings available
• Historical dotted projections for additional market context
• MID-RANGE level between the nearest support and resistance
• Clear price labels positioned directly on the corresponding lines
• Automatic label spacing to prevent overlapping text
• Customizable colors and display setting
• Works with Forex, commodities, indices and cryptocurrencies
• Suitable for all trading styles and chart timeframes
HOW IT WORKS
The indicator analyzes the highest and lowest prices within three different lookback periods.
R1 and S1 represent the nearest dynamic resistance and support levels.
R2 and S2 provide a broader view of the market structure.
R3 and S3 represent the longest-term levels calculated by the indicator.
The solid sections show the current active levels. The dotted sections display their historical projections, making it easier to see how price previously interacted with the same line structure.
When two or more support or resistance levels identify the same price area, the lines can naturally converge and overlap.
This is intentional and indicates that multiple lookback periods have identified the same market level.
Even when the lines overlap, each individual R1, R2, R3 or S1, S2, S3 label remains clearly visible.
MID-RANGE
The MID-RANGE line shows the midpoint between R1 and S1. It provides a simple visual reference for the current position of price within the nearest support and resistance range.
AUTOMATIC AND MANUAL SETTINGS
With AutoSettings enabled, the indicator automatically selects suitable lookback and slope values for the active chart timeframe.
Advanced users can disable AutoSettings and configure all three levels manually.
IMPORTANT
Nova Dynamic Support and Resistance Indicator is an analytical tool. It does not open, modify or close trades and does not provide guaranteed trading results.
Always combine technical analysis with appropriate risk management and your own trading strategy.
