Support & Resistance MTF Metatrader 4 Forex Indicator

The Support & Resistance MTF (multi timeframe) forex indicator is an excellent fully automated support/resistance technical trading tool.

This indicator recognizes the most significant support and resistance levels for any currency pair and timeframe.

You can enable/disable any timeframe directly from the indicator’s inputs menu.

Just load it onto you charts to get it to work.

In a nutshell, here’s how support and resistance work:

  • A buy signal occurs when price breaks and closes above resistance.
  • A sell signal occurs when price breaks and closes below support.

Free Download

Download the support-and-resistance-mtf.mq4” MT4 indicator

Example Chart

The EUR/USD 5-Minute chart below displays the Support & Resistance MTF (multi timeframe) Metatrader 4 indicator in action.

Basic Trading Signals

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

Buy Signal: Open buy trade when price closes above resistance from below. Place a protective stop-loss below the previous swing low price.

Sell Signal: Open sell trade when price closes below support from above. Place a protective stop-loss above the previous swing high price.

Trade Exit : Use your own method of trade exit.

Download

Download the support-and-resistance-mtf.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (LB, max bars, show MTF timeframes) Colors, width & Style.

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

Type: support | resistance

Installation

Copy and paste the support-and-resistance-mtf.mq4 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)

Share Now!