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Support And Resistance Levels Metatrader 4 Indicator

This is one of the best support and resistance indicators available to traders. It can be used to trade forex, CFD stocks,…

Key Assumptions

Bullish pressure: Sustained price break above resistance.
Bearish pressure: Sustained price break below support.
Flat market: Price trades between support and resistance.

Trading Signals

BUY: Wait for a sustained break above key resistance levels.
SELL: Wait for a sustained break below key support levels.

Download

Download the SupportResistanceLevels.mq4 Metatrader 4 indicator.

Configurable Indicator Options

Contact_Step, Precision, Shift_Bars, Bars_Count

GBP/USD 30 Min Chart Example

support-resistance-levels-mt4-indicator

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.