Simple Support and Resistance - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resources
This is a super simple starter code for anyone who wants to work or build with support and resistance. It includes a midline calculated using the average of support and resistance values.
The default setting for the number of bars to review is 50. This can be updated by changing the value of "Look Back" on the input tab.
Attachment download
📎 gc_supportresistance.mqproj (1.65 KB)
📎 gc_supportresistance.mq4 (2.67 KB)
Source: MQL5 #46970
Simple Support and Resistance - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resource Usage and Screening Suggestions
Simple Support and Resistance - MetaTrader 4 Script | Trading Script Download - MT4/MT5 resources are trading script 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 only on titles or short-term profit descriptions.
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