Livelli SR
Info
The Livelli SR is a Indicator for MetaTrader 4 that the indicator displays support and resistance levels. Despite its simplicity, this indicator can be highly useful, as it visually highlights support and resistance levels in a subtle yet effective manner.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Livelli SR
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The indicator displays support and resistance levels.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: power of ca d - another powerful indicator for MetaTrader 4 traders.
The indicator displays support and resistance levels.Despite its simplicity, this indicator can be highly useful, as it visually highlights support and resistance levels in a subtle yet effective manner.
Also recommended: Figurelli RSI: Enhanced Relative Strength Index for Trend Detection - similar indicator with strong performance on MetaTrader 4.
Additionally, it provides comments indicating the most recent maximum and minimum values, offering valuable insights.
This indicator is a contribution to the open-source MQL4 community, giving back to those who have shared their knowledge and expertise.
Feel free to utilize and customize this indicator to suit your trading needs.
You may also like: RSI Indicator with Dynamic Signal Lines - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 deepskyblue
#property indicator_color2 tomato
#property indicator_width1 1
#property indicator_width2 1
#define zzback 1 .......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.