Forex-Support-Line-Indicator
Watch the testing video here:
Forex Support & Resistance Indicator
The Support & Resistance levels II forex indicator scans for all minor and major support & resistance levels on any pair and timeframe.
Support levels are colored blue while resistance levels are colored blue.
S&R levels are a very important forex analysis tool used by many traders.
They are used to trade breakout signals, to identify good stop-loss levels and to take profits.
I personally like to set the indicator’s precision (inputs tab) to 2500.
This gives me the more important major support and resistance levels instead of the default mix of minor and major levels.
This indicator can be used as a standalone, especially to trade breakouts or in conjunction with other technical indicators or analysis tools.
Support & resistance works for scalping, day trading and swing trading.
Free Download
Download the “support-resistance-levels.ex4” MT4 indicator
Example Chart
The EUR/USD 4-Hour chart below displays the Support & Resistance levels II Metatrader 4 Forex indicator in action.
