How do I install this Indicator on MetaTrader 4?

Download the file, open MetaTrader 4 -> File -> Open Data Folder, copy the file to the correct folder (Experts / Indicators / Scripts / Libraries), then restart the terminal.

How do I activate / load this Indicator?

Drag the Indicator from the Navigator onto your chart and adjust the input parameters as needed.

Is this compatible with MetaTrader 4?

Yes, this Indicator is built specifically for MetaTrader 4.

Is this Indicator safe to use with real money?

All tools are provided for educational and testing purposes. We strongly recommend testing on a demo account first. Trading involves significant risk of loss.

Can I use this Indicator on multiple charts?

Yes, you can apply multiple indicators on the same chart.

Can I customize the settings of this Indicator?

Yes. Right-click on the chart and select properties to open and adjust parameters.

Free support and resistance indicator Indicator for MetaTrader 4

MetaTrader 4 indicator

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support and resistance indicator

Info

The support and resistance indicator is a Indicator for MetaTrader 4 that the main idea behind it is to search for support and resistance levels,becouse i could not fint any similar indicator. the support and resistance functions do exactly that.

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 support and resistance indicator

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 main idea behind it is to search for support and resistance levels,becouse i could not fint any similar indicator.

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: actual resistance and support lines indicator - another powerful indicator for MetaTrader 4 traders.

the main idea behind it is to search for support and resistance levels,becouse i could not fint any similar indicator. the support and resistance functions do exactly that. when calculating if both support and resistance levels exist, the indicator sdisplays them on the chrt and save their value, so that if the next price is between them, they will remain the same.

Also recommended: fibonacci support and resistance indicator - similar indicator with strong performance on MetaTrader 4.

there are 2 input parameters : period and overlook. the indicator searches for the highest and lowest price for which it is true that it is the highest/lowest in the last (period) bars and also the highest/lowest in the period+overlook bars. if it finds both a highest and a lowest value it displays it on the chart.
the i parameter running in the oncalculate function should always run from period+overlook.
the indicator does not use any include files. i recommend the settings: period: 20, overlook : 10.

You may also like: automatic parabolic support and resistance levels indicator - excellent alternative for indicator users on MetaTrader 4.

Source Code

яю//+------------------------------------------------------------------+
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version   "1.00"
#property strict
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 clrRed
#property indicator_color2 clrGreen
#property indicator_width1 2

.......

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⚠ 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.