Support and Resistance Breakout Indicator Download for MT5 - Free - [TFlab] | Forex Indicator Download - MetaTrader 5 Resources

The Support and Resistance Breakout indicator (SRBA) is a tool that uses pivot points to determine price levels. The SRBAI indicator available in MetaTrader 5 indicators helps traders pinpoint key levels on the chart.

The SRBAI indicator is designed specifically for MetaTrader 5 (MT5) and determines support (blue) and resistance (red) levels. When the price breaks above or below these levels, it generates a buy signal (blue arrow) or a sell signal (red arrow) and displays these signals as alerts on the chart.

Indicator table

Resistance breakout signal

In the 30-minute (XAUUSD) chart, the market's uptrend broke resistance above the price level of 2398.09 . After breaking through the price level , the SRBA indicator shows a signal on the buy chart (blue arrow).

Support breakout signals

In the 1-hour Silver (XAGUSD) chart, the market fell sharply, breaking support at 29.157 . After the support level was broken, the SRBA trading tool displayed a sell signal (red arrow) on the chart.

Indicator settings

• RSI_CCI_Filter: Use CCI and RSI to send out more accurate signals.
• RSI_Period: Select the RSI period.
• RSI_OverBought: Select the RSI overbought level.
• CCI_Period: Select the CCI calculation period.
• CCI_Buy: Select the CCI buy signal level.
• CCI_Sell: Select the CCI level for sell signal.
• Alerts: Turn on alerts.
• Alert_On_Close: Alert when the candle closes after breaking this level.

Conclusion

The Support and Resistance Breakout Indicator (SRBA) helps traders with market analysis by displaying support and resistance levels on the chart. This MetaTrader 5 Support and Resistance Level combines the CCI and RSI indicators to provide a powerful signal following a breakout of key price levels on the chart.