Auto Support & Resistance Zones Indicator for MT4

Auto Support & Resistance Zones indicator was created because i never found a program that showed support and resistance levels with the highest accuracy. The software itself will show you not only horizontal lines (support, resistance), but also UPWARD sloping ones which are very important in forex trading .

The Support & Resistance Indicator is designed AMF Signal Arrows to enhance a trader’s daily activities by automatically identifying price levels with prior significant interactions.

Forex is becoming the center of interest for many new traders and investor. These levels are then illustrated on both MT4 and MT5 charts in the form of rectangular areas.

If you’re a day trader, swing trader or position trader who trades stocks, commodities, currencies and/or futures markets then you need to know about this indicator.

Automatic Support and Resistance Lines MT5

The Auto Support & Resistance Zones Indicator is an easy-to-use technical analysis tool that helps traders identify support and resistance zones in their charts with the click of a button. This will give your trading more clarity by alerting you when it’s time to buy or sell. It also can help warn you when it’s too late for action.

Support and Resistance Zones

This indicator is currently only available on PC platforms but we are working hard at developing one for Macs as well!

Auto Support & Resistance Zones Indicator is a new indicator developed by an independent trader dynamic channel. The Auto Support & Resistance Zones Indicator allows the user to set trading alerts for key support and resistance levels, which will notify them when these levels are reached. This can be used to optimize trade opportunities or avoid potential losses.

Best Support and Resistance Indicator MT4

For this indicator to work properly, you need to follow some guidelines: 

  1. You can use ATR(14) or ADX(14) indicators – it doesn’t matter. Select one of them and add it on your chart. If you don’t have any indicators on your chart, select “No_indicators” in the dropdown menu for ‘HZ Timeframes’.
  2. You must timeframes 15min OHLC candles indicators (1min candles minimum). This is required because the indicator uses candles, not OHLC bars(!)
  3. If you see that this indicator isn’t drawing any lines, go to ‘Tick_Smoothing’ parameter and set it to 1 or 2. That should help.
  4. Select “No_HZ_Trend” in the dropdown menu for ‘HZ Timeframes‘.
  5. When using ATR(14), set the period 22-25.
  6. I don’t recommend using Bollinger bands with this indicator; its better suited for fixed support&resistance levels.
  7. HAVE FUN Auto Support & Resistance Zones Indicator Parameters: SUPPORT_LEVELS = 0 RANGE = 10 SUPPORT_LEVELS_DRAW = true RESISTANCE_LEVELS = 0 RANGE = 10 RESITANCE_LEVELS_DRAW = true HZ_TIMEFRAMES = 15min #minutes HZ_ENUM_MAIN MODE = Candle BARSUPPORT DRAWMODE AND LEVEL TYPE AND PERIOD = Close CROSSUP 1 CROSSDOWN 1 CROSSESIGNAL UP HIGH BID 1 CROSSESIGNAL DOWN LOW ASK 1 TICKSNR is smoothing parameter for the indicator.
  8. Values from 0 to 2 WORK BEST. When using ADX(14), set the period 25-30. You can also use Range Bar Indicator Auto Support & Resistance Zones Indicator for binary options trading, but only on the highest timeframes.

Best Support and Resistance Indicator MT4

FOR THIS INDICATOR TO WORK PROPERLY YOU NEED TO FOLLOW THE INSTRUCTIONS BELOW:

1) You can use ATR(14) or ADX in forex trading .

However, the height of specific support/resistance areas may expand with the occurrence of new highs/lows within their range.

This indicator is designed specially to help forex traders to perform their tasks more effectively and easily.

As forex is one of the most rapidly growing field. Importantly, the Support & Resistance indicator does not repaint.

The vertical extent of support or resistance areas VSA Trading System is determined by the spread between price highs and lows that the level traverses. Resistance levels are denoted in orange, while support levels are represented in blue.

Auto Support & Resistance Zones Indicator Download free

Enjoy and good luck!

Auto Support & Resistance Zones Indicator was created because i never found a program that showed support and resistance levels with the highest accuracy. The software itself will show you not only horizontal lines (support, resistance), but also UPWARD sloping ones which are very important in forex trading .

How the Indicator Identifies Levels

Various approaches exist for drawing support and resistance levels, and the S&R indicator employs a method based on the Fractal indicator. Forex trading can help you to become a millionaire or atleast financially free in just a short time.

Auto Support & Resistance Zones Indicator

The Fractal indicator identifies touches, which are extreme levels of price.

Support and resistance levels themselves cover slightly Best Pin Bar less than 50% of the area analyzed by the algorithm. These touches are then used to pinpoint levels with the maximum number of price interactions, subsequently displayed on the chart.

Trading With the Support & Resistance Indicator

Three primary trading techniques leverage strong support and resistance levels: rebound (bounce) from a level, level breakout, and retest of the broken level. These straightforward techniques are accessible to novice traders.

For detailed strategies and further insights into trading with support and resistance levels, refer to the article titled “Strategies of Trading with Support and Resistance Levels.”

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Settings

The indicator’s settings window encompasses several tabs. For clarity, the settings displayed on the “Inputs” tab are analyzed:

Best support and resistance zones indicator

Level Settings Block:

Level Vertical Width: Controls the maximum height of support and resistance areas.
Breakout Sensitivity: Governs the indicator’s responsiveness to level breakout.

Display Options Block:

Levels Display Period: Sets up the depth of the history used to draw support and resistance levels.
Minimum Touches to Show: Specifies the minimum number of interactions for a level to be drawn.
Show Touches Count: Displays the number of price interactions with the level.
Show Touches on Click: Displays price interactions upon clicking the level number.
Projection Length: Sets the length of the dashed line (projection) in bars.

Color Options Block:

Color Scheme: Automatically detects the color scheme or allows manual selection.

These settings provide flexibility and customization Elliott Wave Count to align the indicator with individual trading preferences. We hope that after going through this article your knowledge about this topic will be increased and you must have now been able to know about the impact of forex trading in market.