Support and Resistance - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The Support and Resistance indicator displays support and resistance levels using the fractal indicator.
The calculation of the support level is based on the "Downward fractal" and the calculation of the resistance level is based on the "Upward fractal" fractal Bill Williams indicator.
This is the MQL5 version of the indicator, published in the code base of mql4.com on August 11, 2006.
Attachment download
📎 support_and_resistance.mq5 (13.21 KB)
Source: MQL5 #401
Support and Resistance - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Support and Resistance - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 resources are resources related to Forex indicators. 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 only on titles or short-term profit descriptions.
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