Support and Resistance Indicator for MT4

The Bases of Technical Analysis

Most traders use Support and Resistance when it comes to technical analysis. When analyzing the Forex market it's very crucial to know where exactly the market will reverse when it reaches a specific price point. Areas, where prices reverse in the Forex or Stock market, are normally known as Support and/or Resistance.

Price normally touches these levels multiple times before it could breakthrough. These areas are sometimes referred to as areas of Demand and Supply. Support is formed when there is an increased demand on a certain price level due to increased orders or shares. While resistance level is formed when there is increased supply on a certain price level.

Locating support and resistance can be very tricky at times. This indicator is intended to help you locate these levels on autopilot. Use these levels to help you make your trading decisions. Keep in mind that trading stock and currencies carry a high level of risk. This being said do not open a trade without having more than two confirmations. This indicator can be used with any currency pair preferably on H1 and H4 time frame. Lastly, remember to practice this indicator on your demo account first.   



How to download and install Support & Resistance 
 
Download Support & resistance indicator by click the button bellow >then open meta trader platform> click on File menu > open data folder > open MQL4 > open indicator folder > copy and pest the indicator from download folder > refresh your MT4 >Load currency pair chart > drag and insert indicator on your chart just like how it is shown on the video.