Support and Resistance MTF

Support and Resistance MTF

Overview
Support & Resistance (MTF) is a MetaTrader 5 indicator that automatically identifies swing highs (resistance) and swing lows (support) across up to three timeframes. It merges nearby levels to reduce clutter, adapts zone width to market volatility using ATR, and offers optional alerts when price breaks or retests those levels.

Features

• Multi-timeframe pivot detection
  Identify pivots on the current chart plus two higher timeframes using a configurable pivot length.

• Merge-distance grouping
  Automatically combine levels closer than a specified number of points to highlight the most significant zones.

• ATR-based zone width
  Dynamically size support/resistance bands by multiplying ATR by a user-defined factor.

• Style options
  Choose between precision lines or colored boxes; customize colors, line style, width, and label placement.

• Break & retest alerts
  Detect price breaks or retests (by wick or by close) and mark them with on-chart arrows plus optional popup, sound, or email notifications.

• Dynamic labels
  Each level shows its source timeframe and exact price.

• Performance-optimized
  Efficient looping and array handling keep CPU load minimal.

Inputs

• PivotLength (integer): bars on each side to define a high or low pivot

• MinStrength (integer): minimum number of retests required to display a level

• InvalidationMethod (WICK / CLOSE): choose whether a wick break or a close break invalidates a level

• MergeDistance (points): minimum separation for distinct levels

• ZoneWidthATR (decimal): ATR multiplier for zone height

• DisplayStyle (LINES / ZONES): draw levels as lines or boxes

• ShowBreakRetests (true / false): enable on-chart arrows and alerts

• UseTF1–3 (true / false): enable detection on each timeframe (current, higher1, higher2)

• TF1–3 (timeframe): e.g. PERIOD_CURRENT, M5, H1, H4

• LineColor / BoxColor / TextColor: colors for each level type

• LineStyle / LineWidth: style and thickness for lines or box outlines

• AlertPopup, AlertSound, AlertEmail (true / false): notification preferences

How to Use

1. Attach the indicator to any chart.

2. Enable and set your three timeframes (for example M5, H1, D1).

3. Define pivot length, merge distance, ATR multiplier, and display style.

4. Customize colors, line styles, and alert options.

5. Observe support and resistance levels as they appear, merge intelligently, and receive alerts on breaks or retests.

Disclaimer
This indicator is provided for analytical purposes only. It does not guarantee trading signals or results.