automatic support and resistance indicator for mt4

 

The Auto/Dynamic Support&Resistance Indicator aims to assist a trader in their intraday trading. It automatically judge the levels of the price as actively interacted with before and draws them on the Metatrader4 chart as rectangular areas.

The price range (height) of support or resistance areas depends on the spread between price highs and lows that the level goes through.

Resistance levels are marked in green, and support levels are marked in red.

The Dynamic Support&Resistance indicator does not repaint. However, the occurrence of new highs/lows within the range of a specific support/resistance can expand its height.

The best timeframes to work with are M15-H1.

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