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The Zone Indicator is a range detection tool in MetaTrader 5 indicator that provides traders with the most direct way to identify Support and Resistance levels. This tool is helpful for many trading styles and strategies , such as Price Action , where Support and Resistance levels play a vital role.

The zone indicator shows support zones with green boxes and resistance zones with red boxes on the price chart, making it easier to observe price actions at these levels.

area indicator table

Buy conditions using indicators (support levels)

The 30-minute timeframe in the chart of the AUD/USD currency pair is shown below. On August 6th , after the price retraced, the MT5 support and resistance indicators were when the price reached the green box (Support) and reacted upward. Bullish Divergences can also confirm when prices reach these levels.

Sell ​​conditions using indicators (resistance levels)

The chart below shows the Brent Crude Oil (BRN) chart in the 1-hour timeframe . On July 31st , after a price retracement, the price reached the red box (resistance) and reacted downward. Bearish Divergences can also be used for further confirmation when price reaches these levels.

Zone indicator settings

• TF: The default time range is 60 (1 hour) or current .
• MaxBars: The maximum number of bars used for calculation is set to 1000.
• Rcolor: The color of the resistor box is red.
• Color : The color of the support box is green.
• TxtColor : The text color is set to gray.
• Background: Set to false for hollow boxes.
• RectangleWidth : The width of the box is set to 2.
• RectangleStyle: The frame style is set to 0.
• TxtSize : Text size is set to 8.
• RectShift : The box shift size on the right side of the chart is set to 10.
• AO settings: Oscillator settings
• MA1: The first moving average is set to 1.
• MA2: The second moving average is set to 5.
• The Metod_MA: The moving average method is Exponential .
• Price_MA: Calculation is based on closing price (Close).

Summary

The Zone Indicator is one of the most direct tools for identifying reversal points . By combining these levels with other technical analysis tools such as divergence, time analysis, and volume , traders can differentiate between effective and ineffective levels.