An easy to use Forex support and resistance trading indicator for Metatrader 4 based on the KLPeriod.
The red line represents resistance, the green line represents support.
In up trends: buy a break above the red resistance line. Look to buy near support.
In down trends: sell a break below the support line. Look to sell near resistance.
Flat markets: look to buy near support / look to sell near resistance.
Configurable Indicator Options
EUR/USD Hourly Chart Example
How to install the KL Period Support and Resistance custom indicator in Metatrader 4?
- Download the #FPL-SR.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.