This indicator finds and draws support and resistance lines based on fractals for the following periods: Month, week, day, 4 hour and 1 hour.
A nice indicator to trade breakout signals above/below the fractals R/S lines.
Trading Signals
Buy a breakout above resistance lines.
Sell a breakout below support lines.
Indicator Preferences
Currency pairs: any
Preferred Time frames: M15 and above
Sessions: any
Download
Download the FractalSupportResistance.mq4 indicator.
Configurable Indicator Options
Support/resistance line colors
GBP/USD H4 Chart Example
How to install the Fractals Support And Resistance custom indicator in Metatrader 4?
- Download the FractalSupportResistance.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.