Support and Resistance Hunter MT4

Support & Resistance Hunter MT4 automatically builds key support and resistance zones based on the Parabolic SAR. The indicator detects breakouts, flips (role reversal of a level), and locks frozen zones after a double breakout.

Suitable for chart analysis on any timeframe and instrument.

🔧 Settings

░ General ░

• LookbackBars (0) — number of bars to analyze. 0 = full history.

• MaxZones (0) — maximum number of zones to display. 0 = all zones.

• ExtendBars (0) — number of bars to extend the zone to the right.

░ Zone Build ░

• ZoneBuildMode (0) — zone construction method:

  • 0 = by High/Low of candles;

  • 1 = by candle bodies (Open/Close) with BodyPaddingPts applied;

  • 2 = combined method (different for support and resistance).

• BodyPaddingPts (0) — additional padding (in points) applied to candle body boundaries.

░ Break Logic ░

• BreakByClose (true) — consider breakout only by candle close ( true ), or allow wicks ( false ).

• BreakTolerancePts (100) — tolerance (in points) when determining a breakout.

░ Colors & Drawing ░

• ColorSupport (MediumSeaGreen) — support zone color.

• ColorResistance (Tomato) — resistance zone color.

• ColorFlipSupport (PaleGreen) — flipped support color.

• ColorFlipResistance (Pink) — flipped resistance color.

• ColorFrozen (Gainsboro) — frozen zone color.

• TextColor (Black) — label text color.

• ZoneLineWidth (1) — zone border line width.

• DrawBack (true) — draw zones in the background (so they don’t cover candles).

• ShowLabels (true) — display zone labels (“Support”, “Resistance”, “Frozen”).

📊 How it works

1. The indicator finds areas where Parabolic SAR values coincide.

2. Based on these candles, a support or resistance zone is built.

3. If the price breaks through the zone — it changes status (“flip”).

4. On the second breakout, the zone becomes “frozen” and stops extending.

✅ Advantages

• Automatic detection of key levels.

• Includes “flip-zones” (role reversal of support/resistance).

• Clear visualization with colors for each zone state.

• Flexible breakout logic settings.

• Lightweight and fast, does not overload the terminal.

⚠️ Disclaimer

The Support & Resistance Hunter MT4 indicator is not an Expert Advisor and does not open trades automatically.
It is designed solely for technical analysis and visualization of support/resistance zones.
All trading decisions are made by the user at their own discretion. The author is not responsible for any potential losses related to the use of this indicator.

t.me/algotradinglab_club