How do I install this Indicator on MetaTrader 5?

Download the file, open MetaTrader 5 -> 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 5?

Yes, this Indicator is built specifically for MetaTrader 5.

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 ATR Ranked Support and Resistance Zones Indicator for MetaTrader 5

MetaTrader 5 indicator

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ATR Ranked Support and Resistance Zones

Info

The ATR Ranked Support and Resistance Zones is a Indicator for MetaTrader 5 that this indicator is an example of building support and resistance as price areas rather than exact horizontal lines. It starts with confirmed pivot highs and lows.

Usage

This tool is typically used for enhancing chart analysis and decision making.

Platform

This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).

Setup

Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.

How to Install and Use ATR Ranked Support and Resistance Zones

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

This indicator is an example of building support and resistance as price areas rather than exact horizontal lines.

Typical Use Case

This Indicator excels in automated trading and technical analysis on MetaTrader 5.

Compatible Platform & Setup

This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.

Description & Settings

Related: support and resistance detection with zig zag - another powerful indicator for MetaTrader 5 traders.

This indicator is an example of building support and resistance as price areas rather than exact horizontal lines. It starts with confirmed pivot highs and lows. Nearby pivots are then merged using a distance based on ATR, so the same logic can adjust to different symbols and timeframes. Each area receives a score from three parts: - how many reactions were grouped inside it - how far price moved after those reactions - how recently the area was tested. Only the highest-ranked areas are drawn. Zones below the current price are shown as support and zones above it as resistance. The code is mainly intended as a starting point for developers who want to experiment with level clustering without using a fixed number of clusters. One limitation is worth noting: support and resistance are classified from their position relative to the current price. A more advanced version could wait for a confirmed break and retest before changing the role of a zone. This code is shared for educational purposes. It is intended to demonstrate confirmed pivot detection, ATR-based zone merging and simple level scoring in MQL5. The displayed strength value is an internal ranking score, not a probability of a successful trade or a trading signal.

Also recommended: snr sentinel: adaptive support & resistance indicator for mt5 - similar indicator with strong performance on MetaTrader 5.

You may also like: Support and Resistance Indicator - excellent alternative for indicator users on MetaTrader 5.

Source Code

#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version   "1.00"
#property description "This code is educational. Feel free to use, modify and upgrade as you wish. Visit ROBOTFX.ORG for professional trading tools"
#property indicator_chart_window
#property indicator_plots 0
input int      InpLookbackBars       = 1200;
input int      InpPivotDepth         = 3;
input int      InpATRPeriod          = 14;
input double   InpZoneWidthATR       = 0.18;

.......

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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.