Support and Resistance Breakout Indicator Download for MT4 - Free - [TFlab] | Forex Indicator Download - MetaTrader 4 Resources

Support and resistance breakouts in the MetaTrader 4 indicator (MT4) identify pivot points and determine support and resistance levels.

Support levels are shown with blue dotted lines and resistance levels are shown with red dotted lines. When a support level is breached (broken), a sell signal (red downward arrow) is issued, and when a resistance level is breached, a buy signal (blue upward arrow) is issued.

Indicator table

Principles of using SRBAI indicator

The SRBAI indicator is an effective tool for traders to identify support and resistance breakout areas. The indicator detects these breakouts and issues buy and sell signals.

Breaking through resistance

In the Gold (XAUUSD) 1 hour chart , if the resistance level marked in red is broken, a buy signal ( Buy ) is issued in blue.

Breaking through support

In the 30-minute chart of the NASDAQ index ( NAS100 ), if the support level marked in blue is breached, a red sell signal (SELL) is issued.

Indicator setting

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Traders can receive stronger signals on the chart by enabling RSI_CCI_Filter .

• RSI_CCI_Filter: Use CCI and RSI to filter signals.
• RSI_Period: RSI calculation period.
• RSI_Overbought: RSI overbought level.
• RSI_Oversold: RSI oversold level.
• CCI_Period: CCI calculation period.
• CCI_Buy: CCI level for buy signal.
• CCI_Sell: CCI level for sell signal.
• Alerts: Turns on alerts.
• Alert_On_Close: Alert when the candle closes.

Conclusion

The Support and Resistance Breakout Indicator (SRBAI) provides strong buy and sell signals by combining the RSI indicator and CCI. This MetaTrader 4 support and resistance indicator helps traders receive stronger signals on their charts.