MTForge Support Resistance Levels

Best used for: Identifying entry/exit zones, setting stop-losses and take-profit targets, breakout trading, range-bound trading, and confirming levels from other analysis methods.

This indicator automatically identifies key support and resistance levels using fractal pivot detection, eliminating the need for manual drawing. It scans price history for swing highs and swing lows, then projects R1, R2, R3 (resistance) and S1, S2, S3 (support) levels on your chart with visual trendlines and channel fill.

How it helps traders: Support and resistance are the foundation of technical analysis. Price tends to stall, reverse, or accelerate at these levels. This indicator removes the subjectivity of manually drawing levels by using a mathematical fractal algorithm to detect genuine pivot points. Traders can use it for entry timing — buying near support levels and selling near resistance. It's equally valuable for stop-loss placement, as placing stops just beyond a confirmed S/R level reduces the chance of being stopped out by normal noise. The R1-R3 and S1-S3 tiered levels give you multiple price targets for scaling out of positions. The built-in cross alerts notify you the moment price breaks through a key level, so you never miss a breakout or breakdown. The channel fill between levels gives a visual "zone" rather than a single line, which is more realistic since support/resistance are areas, not exact prices. Works on any timeframe and any instrument — forex, indices, commodities, crypto. The strict vs lenient pivot mode lets you choose between fewer but stronger levels (strict) or more levels for active scalping (lenient).

Thank you for considering MTForge Support & Resistance Levels with channels . If this indictor meets your expectations, please leave a rating — it helps other traders make informed decisions.