Best Support Resistance Indicator MT4

Best Support Resistance Indicator MT4

Support and resistance levels are the key factors that determine the price movement from one zone to another. They are levels for trend reversal/breakout signals forex traders look out for before making a trade decision.

The Support and Resistance Indicator is a custom trading tool for MT4 developed to plot support/resistance zones from past price actions. 

The indicator also helps a trader evaluate optimal zones to place a BUY/SELL order or to exit a trade. In other words, it assists traders to be wary of opening a trade position around a support/resistance area.

• Levels are not repainted once they are formed!

Inputs

• Deviations - number of bars.
• Deviations2 - number of bars.
• AlertOn - enable alerts;
• EmailAlert - enable email alerts;
• PushAlert - enable push notifications;