Re: THE BEST SUPPORT AND RESISTANCE INDICATOR FOR MT4

52
Mark_Str_Contr_AS


Analyzes Market Structure based on High/Low Protection : Market Structure Control (Mark_Str_Contr_AS)




User Guide :


1. Core Concept : "Who is in Control ?"

This indicator analyzes the Market Structure across multiple timeframes simultaneously (from M1 to D1).
It is not just a support/resistance indicator ; it identifies Protected Highs and Protected Lows.
  • Bullish Control : Buyers have established a strong "Low" that pushed the price up. As long as price stays above this level, Buyers are in control.
  • Bearish Control : Sellers have established a strong "High" that pushed the price down. As long as price stays below this level, Sellers are in control.

2. Visual Guide : How to Read the Chart
The indicator draws horizontal dotted lines with labels at the right side of the Chart.

The Lines :
  • Blue / Orange Lines (Below Price) : These are Protected Lows. They represent Support. If the price breaks below these, the bullish structure is invalid.
  • Red / Pink Lines (Above Price) : These are Protected Highs. They represent Resistance. If the price breaks above these, the bearish structure is invalid.

The Labels (e.g., H1 M_BULL or M15 m_BEAR) :
  • Timeframe : H1, M15, etc. ( Shows which timeframe generated this level ).

Structure Type :
  • M (Major) : Stronger, higher timeframe structure (Major Swing).
  • m (Minor ): Smaller, internal lower timeframe structure (Minor Swing).

Direction :
_BULL (Buyers in control) or _BEAR (Sellers in control).




3. Trading Strategies :


A. Trend Following (Confluence) Look for alignment across timeframes.

Signal : If the H1, M15, and M5 levels are all showing "BULLISH CONTROL" (lines are below the price), the trend is strongly Up.
Action : Look for buy setups. Do not sell until the Minor (m) structure breaks.


B. Stop Loss Placement The indicator identifies specific invalidation points.

Strategy : If you are Long (Buying), place your Stop Loss slightly below the nearest Major Bullish Control line.
Logic : If price crosses this line, the reason for the trade (the market structure) is no longer valid.


C. Breakout / Reversal (Structural Shift) The code contains a function called CheckIntraBarInvalidation.
This means lines are deleted immediately when price touches them.

Strategy : Watch a "Major Bearish" level (Red line). If price pushes up and touches the line, the line disappears.
Meaning : The Bears have lost control. This is a potential Market Structure Shift (MSS). You can look for a retest to go Long.


4. Understanding the Settings (Inputs)

Timeframe Selection :
You can turn specific timeframes (M1-D1) on or off depending on your trading style (Scalper vs. Swing Trader).

Structural Analysis Settings :
  • Minor_Swing_Strength (Default: 3): How many candles constitute a small pullback. Lower numbers = more sensitive, more lines.
  • Major_Swing_Strength (Default: 10): How many candles constitute a major pivot. Higher numbers = stronger, more significant levels.
Filter Settings (Quality Control) :
use_VolumeFilter : If true, the indicator ignores pivots that happened on low volume. It only marks levels where "smart money" likely participated.
use_RangeFilter : If true, it ignores tiny candles (dojis) to prevent clutter during consolidation.


TIP :
This indicator is best used to determine the Bias (Direction). If the H4 and H1 lines are Bearish (Red/Pink above), focus only on selling opportunities on lower timeframes.



* Abdi created based on the Shved Supply and Demand code & posted #46 in :
viewtopic.php?p=1295572974#p1295572974


** Credits for aydinsarihan
Always looking the GREAT, never left GOOD Point...