Support and Resistance Indicators - MetaTrader 4 Script | Forex Indicators Download - MT4/MT5 Resources
The main idea behind it is to find support and resistance levels as I couldn't find any similar indicator. Support and resistance functions do exactly this. When calculating whether support and resistance levels exist, the indicator displays them on the chart and saves their values so that if the next price is between them, they will remain unchanged.
There are 2 input parameters: period and ignore. The indicator searches indeed the highest and lowest price for the highest/lowest price in the last (period) bar and the highest/lowest price in the period+ignoring bars. If it finds the highest and lowest values, it displays them on the chart.
The i parameter run in the OnCalculate function should always run from period+overlook.
This indicator does not use any include files. My recommended settings: period: 20, ignore: 10.
Attachment download
📎 box.mq4 (6.88 KB)
Source: MQL5 #42482
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