Finally, a multi-timeframe dynamic support and resistance indicator that helps you automatically identify strong zones to buy and sell from. MTF

MULTI-TIMEFRAME

Toggle over 9 different time frames
Overlap various time frames for stronger levels
Smart filters for more accurate levels

ACCURATE

SUPPORT & RESISTANCE

Multiple Swing Low / High Scanner
Overlap Support / Resistance
Pullback Support / Resistance

FLEXIBLE

SETTINGS

Adjust the strength of each time frame
One-click strict settings
Individual settings for each time frame

SUPPORT AND RESISTANCE TRADING STRATEGY

A proper guide to understanding how to trade support & resistance profitably.
Crafted by a team of CMT, CFTe & CFA certified traders.

Trading purely based on support and resistance can be a very profitable strategy – but only if you do it correctly. I am a full-time trader running an award winning research firm, providing analysis for the largest banks and brokers in the world. My personal trading method (on top of support and resistance) involves using Advanced Fibonacci Retracements, Candlestick Patterns (really important), True RSI and proper trade management. Below is a short video I was featured in showing the day in my life as a trader.



Before you can even begin to trade support and resistance, you need to understand how to interpret it and most importantly, how to filter out the good zones from the bad zones. Notice I say zones here and not levels. Because support and resistance works in the form of zones (areas), not specific levels.

SUPPORT AND RESISTANCE SIMPLIFIED
Back to basics my friend.

It's important to know that support is always below price and resistance is always above price
Let us first properly define what Support and Resistance levels are before moving further (to avoid any confusion).

Resistance = any level that is above price.

Support = any level that is below price.

Support and resistance levels are essentially key levels a person should watch out for because previous price action between the bulls and bears have given us a key sign into the importance of those levels. See price failing to break above this resistance line for the past 3 times? That’s clearly a strong level to pay attention to.

If you see price failing to break below this horizontal support line multiple times, it is a strong level to pay attention to too. One of the most common questions we’re asked is how to determine resistance and support lines – especially which ones are the most important since based on how we draw them, almost every level can be an important level.

DIAGONAL VS HORIZONTAL
Which is more accurate?

Quite simply put, there are many ways to draw support and resistance lines, but only a few correct ways to do so.

There are ascending/descending lines such as diagonal lines (most inaccurate) because the subjective nature of taking the proper levels is too subjective. If you get one point off by 1 pip, the line goes way off tangent.
There are channels which require at least 2 points on top and 2 points below which are fairly more accurate. This is because you are essentially taking a minimum of 4 points.
Then there are horizontal support/resistance levels which are the most accurate because it leaves extremely little room for subjective interpretation. To this tune, we’ll be focusing on the key support and resistance levels from such horizontal lines/areas.
WHAT MAKES THE TFA SUPPORT AND RESISTANCE INDICATOR DIFFERENT?
Versus the other 100 indicators out there.

What makes this support vs resistance indicator different from all the hundreds others out there is that it filters out a lot of the weak levels and on top of that, it doesn’t only find support and resistance levels, but instead more importantly, find support and resistance areas. Now, this is not some “demand/supply zone” indicator which many people are familiar with, it’s way better than that.

Using areas (instead of lines) gives us a much better idea on which levels to watch out for. After years of testing, the most important support and resistance levels can be broken down into these 3 :

1. Swing highs / Swing Lows
These are levels where price just reacts and bounces off multiple times. The more times price reacts off these levels, the stronger they are. Here’s a picture of how swing highs look like : Multiple Swing High Resistance

2. Pullback Resistance / Pullback Support
Pullbacks occur when a swing high/low has been broken – then price makes a “pullback” to the level. In the picture below, you can see that once our swing high resistance is broken, it turns into an “overlap support”.
3. Overlap Resistance / Overlap Support
An overlap support/resistance can only occur when price has broken a swing high/low and made a pullback to the pullback support/resistance. Only after price has bounced off our pullback support/resistance, then it turns into an overlap support/resistance. You can similarly refer to the picture above to better understand.

VIDEO OF OUR SUPPORT AND RESISTANCE INDICATOR IN ACTION
Watch me as I explain how to use this powerful tool in my own trading.





EXPLAINING RESISTANCE
Learn how to identify resistance zones with our support and resistance indicator

Remember : Resistance is always above price. Support is always below price.

We will now look at how our Support and Resistance indicator for MT4 identifies the 3 major types of support/resistance as mentioned above : swing high, pullback and overlap.

Finding swing high resistance on our MT4 Support & Resistance Indicator :
This is really straightforward. We don’t just pick any swing high, we pick the major swing high. How we define major swing highs here is based on the parameter we can adjust called “Swing sensitivity“. The higher this value, the more significant our swing highs are.

This picture below is when we have a swing sensitivity of 100. This means we only pick swing highs where there are more than 100 bars to the left and right of the major high. Notice there are just a few major lines?

Swing sensitivity: 100
These swing high and swing lows have a sensitivity of 100, meaning the are bigger and stronger.
Swing Sensitivity: 30
If we adjusted our swing sensitivity to something like 30, this would result in a lot more weaker lines appearing. This would mean there are many weak swing highs.

These swing highs have a sensitivity of 30, meaning they are weaker (and hence there are more of them)
Combining swing highs to create strong areas of resistance
Now, when more than 1 swing high combines, it becomes a strong level of resistance. This is shown by a highlighted area on the chart with our MT4 indicator.

What our MT4 Support and Resistance indicator does is that it intelligently scans the entire chart for such levels and if they are close enough, they are combined to form a swing high resistance area.
When multiple swing highs line up together, it creates an AREA of resistance.

Finding pullback Resistance on our MT4 Support & Resistance Indicator
Now that we have covered how swing high resistance looks like, let’s look at the next strongest resistance: the pullback resistance.

Pullback resistance is formed when a swing low is broken and price makes a “pullback” to that previous level. In the example below, we can see that price broke a swing low resistance turning it into a pullback resistance.

The Support and resistance indicator for MT4 will highlight the pullback resistance for you.
Finding Overlap Resistance on our MT4 Support & Resistance Indicator
Once we have found a pullback resistance, it is important to keep an eye on this level. Because once price reverses off it, it becomes an overlap resistance.

Pullback resistance turns into a strong graphical overlap resistance if price reverses off it. This shows that there are more bears than bulls at this key decision point.
The support & resistance indicator would highlight where the graphical overlap resistance (or support) occurs.

Hi to everybody. One question. Does anyone knows a good support resistance indicator with buffers?

Jedidiah wrote: Tue Dec 27, 2022 5:01 pm Finally, a multi-timeframe dynamic support and resistance indicator that helps you automatically identify strong zones to buy and sell from.

Hello...

Do you know of a tool like this for Bollinger Band Breakouts?? Thanks

Hi,

about the "MT4 Support and Resistance Radar V5.ex4"
It does not work at all!

MT4 version: 4.00 build 1420 24 May 2024

Jedidiah wrote: Tue Dec 27, 2022 5:01 pm Finally, a multi-timeframe dynamic support and resistance indicator that helps you automatically identify strong zones to buy and sell from.

The indicator doesn't work on Build 1420 - getting cannot load error.

Dadas wrote: Sat Jul 20, 2024 2:10 am The indicator doesn't work on Build 1420

sonychen59 wrote: Wed Jul 17, 2024 3:00 pm It does not work at all!

Any of you bros found a fixed working one yet??