Simple_Support_Resistance - MetaTrader 5 Script - MT4/MT5 Resources
This indicator shows possible support/resistance levels on the price chart.
Calculation formula:
Support[i] = 2*min-max, Resistance[i] = 2*max - min
Where
This indicator has two input parameters:
Figure 1. H1, period = 1
Figure 2. H4, period = 3
Figure 3. M5, period = 15 (default)
Attachment download
📎 simple_support_resistance.mq5 (9.45 KB)
Source: MQL5 #20435
Simple_Support_Resistance - MetaTrader 5 script usage and filtering suggestions
Simple_Support_Resistance - MetaTrader 5 script is a resource 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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