This is one of the best support and resistance indicators available to traders. It can be used to trade forex, CFD stocks,…
Bullish pressure: Sustained price break above resistance.
Bearish pressure: Sustained price break below support.
Flat market: Price trades between support and resistance.
BUY: Wait for a sustained break above key resistance levels.
SELL: Wait for a sustained break below key support levels.
Configurable Indicator Options
Contact_Step, Precision, Shift_Bars, Bars_Count
GBP/USD 30 Min Chart Example
How to install the Support And Resistance Levels custom indicator in Metatrader 4?
- Download the SupportResistanceLevels.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.