Support and Resistance Indicator
Platform: MT5 Type: Market Levels Last update: September 22, 2024The Support and Resistance indicator for MT5 displays the support and resistance levels using the Fractals indicator.
The calculation of support levels is based on the “Fractals down”, and the calculation of the resistance levels is based on the “Fractals up” of the Fractals indicator by Bill Williams.
These levels are shown in the form of magenta and green dots. The lime green color dots work as resistance. Similarly, the magnet dots work as support. In other words, the magenta dots offer buying signals and the lime green dots are used for selling signals.
Please note that these signals should be treated just like additional filters, not standalone core buy/sell signals.
