MT4 Automatic Support and Resistance Indicator Download – Free | Forex Indicator Download – MetaTrader 4 Resource

The Automatic Support and Resistance Indicator is one of the Support and Resistance in MetaTrader 4 , designed to intelligently identify key support and resistance levels .

By analyzing frequently tested price areas , this indicator highlights green areas of support and brown resistance areas on the chart.

Professional traders utilize this tool to identify market reversal points and define trading areas . By providing precise price action analysis , this indicator enables traders to execute trading strategies with greater confidence .

The main application of this tool is to identify high-potential market areas and significantly increase the success rate of transactions .

Automatic support and resistance indicator table

Here are the general specifications of the automatic support and resistance indicator :

Support zone in an uptrend

On the 1-hour timeframe of the GBP/USD currency pair , the automatic support and resistance indicators identify a major support zone , highlighted as a green box on the chart.

When price exits the area and retests, the box color changes from dark green to light green , indicating that the market has tested that support level.

This intelligent feature enables traders to spot price growth areas and identify the best buying opportunities .

Resistance Zone in Downtrend

On the 15-minute chart of the AUD/CAD currency pair , the indicator detects key resistance levels .

After the price breaks out and retracts , the box color changes from dark brown to light brown , indicating that the resistance level has been tested.

This color change signals a potential downtrend forming . Professional traders combine this signal with price action patterns to identify high probability selling opportunities .

Automatic support and resistance indicator settings

Below are the relevant settings for Automatic Support and Resistance Indicator in MetaTrader 4 :

• Untouched Support: Adjust the color of untouched support areas;
• Support Touched: Adjust the color of the test support area;
• Untouched resistance: adjust the color of the untouched resistance area;
• Resistance Touched: Adjust the color of the test resistance area;
• Border Color: Set the color of the box border.

Conclusion

The Automatic Support and Resistance Indicator is one of the MetaTrader 4 indicators that intelligently identifies key price areas .

By detecting high potential support and resistance areas , this tool provides a professional market structure analysis .

Price action traders can use these signals to determine the best entry and exit points .