Multi Timeframes Support & Resistance Metatrader 4 Forex Indicator

The Multi Timeframes Support & Resistance forex indicator is a very handy tool for all kind of currency traders.

It displays the highest (resistance) and lowest (support) bar close price line for multiple timeframes.

The following timeframes are supported: M1, M5, M30, H1, H4 and D1.

Ideas:

– You can spot important area’s of support and resistance on the same chart in just seconds.

For example, looking at the chart more down below, the EUR/USD 15-minute chart contains the highest and lowest bar close prices for M30, H1, H4 and D1 charts.

– It gives you an idea where to open a possible breakout trade position, for example, when price breaks above or below significant resistance or support area’s.

– It gives you also an idea where to place your stop-loss (below support/above resistance) or even where to exit an open position (before support/resistance levels).

Free Download

Download the klines-indicator.mq4” MT4 indicator

Example Chart

The EUR/USD 15-minute chart below displays the Multi Timeframes Support & Resistance Metatrader 4 Forex indicator in action.

Basic Trading Signals

Signals from the Multi Timeframes Support & Resistance MT4 forex indicator are easy to interpret and goes as follows:

Buy Signal: Go long when price breaks and closes above resistance.

Sell Signal: Go short when price breaks and closes below support.

Stop-Loss: Place stop-loss below support (buy trade) or above resistance (sell trade).

Download

Download the klines-indicator.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (KL Period) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: Multi Support/Resistance

Installation

Copy and paste the klines-indicator.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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