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Multi Timeframes Support & Resistance Metatrader 4 Forex Indicator

    The Multi Timeframes Support & Resistance forex indicator is a very handy tool for all kind of currency traders.

    It displays the highest (resistance) and lowest (support) bar close price line for multiple timeframes.

    The following timeframes are supported: M1, M5, M30, H1, H4 and D1.

    Ideas:

    – You can spot important area’s of support and resistance on the same chart in just seconds.

    For example, looking at the chart more down below, the EUR/USD 15-minute chart contains the highest and lowest bar close prices for M30, H1, H4 and D1 charts.

    – It gives you an idea where to open a possible breakout trade position, for example, when price breaks above or below significant resistance or support area’s.

    – It gives you also an idea where to place your stop-loss (below support/above resistance) or even where to exit an open position (before support/resistance levels).

    Free Download

    Download the klines-indicator.mq4” MT4 indicator

    Example Chart

    The EUR/USD 15-minute chart below displays the Multi Timeframes Support & Resistance Metatrader 4 Forex indicator in action.

    Basic Trading Signals

    Signals from the Multi Timeframes Support & Resistance MT4 forex indicator are easy to interpret and goes as follows:

    Buy Signal: Go long when price breaks and closes above resistance.

    Sell Signal: Go short when price breaks and closes below support.

    Stop-Loss: Place stop-loss below support (buy trade) or above resistance (sell trade).

    Download

    Download the klines-indicator.mq4” Metatrader 4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: Chart pattern indicator

    Customization options: Variable (KL Period) Colors, width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: Multi Support/Resistance

    Installation

    Copy and paste the klines-indicator.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

    You can access this folder from the top menu as follows:

    File > Open Data Folder > MQL4 > Indicators (paste here)

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