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Home » Support and Resistance MT4/MT5 Indicator

Support and Resistance MT4/MT5 Indicator

by Dave Posted in All Topics, MT4 Indicators, MT5 Indicators

Support and Resistance MT4

Support and Resistance line are the places which attract buyers or sellers. Prices may pause, slow, reverse at these levels. There are also times that prices penetrate these zones and continue their way with strength. Many traders use support/resistance breakouts as a part of their strategy. This indicator will help you to plot these key levels.

Support and Resistance MetaTrader indicator is very simple indicator, blue dots represent support, red dots are resistance. Those areas you can use for take profit or stops, it’s very easy to use.

Support and Resistance indicator uses the standard MetaTrader Fractals indicator (by Bill Williams’ method) and has no changeable input parameters. This version support MetaTrader 4 and MetaTrader 5 trading platform.

How to Trade With Support and Resistance:

Buy Signal:
-Wait for the price bar to close above the resistance line (price has to close above the red dot).

Support-and-Resistance-sell-buy

Sell Signal:
-Wait for the price bar to close below the resistance line (price has to close below the blue dot).

Support-and-Resistance-sell

Download Support and Resistance MT4/MT5 Indicator

Filed Under: All Topics, MT4 Indicators, MT5 Indicators Tagged With: MT4, MT5 Indicator, Support and Resistance

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Comments

  1. Alexander silva says

    August 23, 2013 at 7:49 pm

    hey how do i install the R and S indicator on to my MT4?

  2. Dave says

    August 23, 2013 at 8:15 pm

    Hello Alexander,

    The easiest way to learn is to tape in http://www.youtube.com/
    “How to install mt4 indicators”

  3. sucker too says

    December 14, 2014 at 4:34 pm

    Hi Dave,
    I am logged in and can not download.
    Regards
    suckertoo

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