Specific Support and Resistance Indicators - MetaTrader 4 Script | Forex Indicators Download - MT4/MT5 Resources

Shows support and resistance lines.

The characteristic is that a support line of 10 and a resistance line of 10 are set. Works well for all ranges and is a good indicator of compression resistance and support levels from which you can deduce which stage the price is in. To work properly, download the files "MW_ZigZag.ex4" and "High_Low v2.ex4", which are written in the directory Expert/Indicators/. This chart only runs the file MW_ZigZag.ex4.

The white line is the resistance line (Res) and the yellow line is the support line (Sup). For example, after moving the cursor over the line, highlight Res10, then highlight the last resistance line, and the same case with the support line. The lines are labeled Res10... res1 - res1 are the oldest resistance lines and Sup10, ... SUP1 - SUP1 are the oldest support lines. The 'property' indicator 'MW_ZigZag.ex4 should not change.

Attachment download

📎 High_Low_v2.mq4 (3.43 KB)

📎 MW_ZigZag.mq4 (8.26 KB)

Source: MQL5 #11032