Dynamic Auto Resistance Support - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
This technical indicator detects constant price areas and draws resistance and support lines.
It checks the market movement in any market and any time frame. If the bar is not abnormally large, the indicator checks and searches for other bars in the same price area.
If enough candles are found, it draws a line at this level. These lines will continue until the next area is identified.
Input parameters:
Attachment download
📎 dynamicresistancesupport.mq5 (5.32 KB)
Source: MQL5 #7006
Dynamic automatic resistance support - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
Dynamic automatic resistance support - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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