AT – Supports/Resistances Pro Indicator

Supports/Resistances indicator Metatrader mt4

Supports/Resistances for MT4 (Metatrader 4) draws supports/resistances automatically, and shows the risk:reward based on these in order for you to plan your trades and look for entries in these important price areas.

Features

Automatically draws Supports/Resistances
Distinguishes between short-term, mid-term and long-terms S/Rs
Calculates the Risk:Reward
Alerts when price is nearby and on break-outs
Former supports turn into resistances on break-out and vice-versa

How to use AT Supports/Resistances?

Supports/Resistances indicator(S/R indicator) is one of the main technical indicators used by traders because of its importance regarding market psychology and supply/demand.

We should think of supports as a floor and resistances as a ceiling, with prices moving up and down between them. Visualizing supports/resistances is fundamental to predict where a trend is going.

Using Supports/Resistances Pro in your trading:

Look for a long trade near a mid-term/long-term support
Look for a long trade on mid-term/long-term resistance break-out
Focus on pairs with positive R:R for long trades (vice-versa for short trades)
Avoid going long if there is a mid-term/long-term resistance just above
Use short-term supports (or longer term ones) to set your stop-loss

supportsresistance_riskrewardpanel_GBPUSDH1_2

supportsresistances_breakout_EURUSDWeekly2

For more information on how to use this indicator, refer to our guide on using Supports/Resistances.

Charts

Settings

General Settings

Show Short-term S/R’s – Set to Yes for the indicator to draw short-term supports/resistances.

Show Mid-term S/R’s – Set to Yes for the indicator to draw mid-term supports/resistances.

Show Long-term S/R’s – Set to Yes for the indicator to draw long-term supports/resistances.

Draw S/R’s since this shift – Bar shift to draw S/Rs from. If it equals 1, it draws from the last bar.

Alert Settings

Activate Short-term S/R Nearby Alert – Each type of alert (nearby, break-out, formation) will only activate after this number of bars have passed.

Activate Short/Mid/Long-term S/R Nearby Alert – Activate nearby alerts for short/mid/long-term S/Rs.

Activate Short/Mid/Long-term S/R Breakout Alert – Activate breakout alerts for short/mid/long-term S/Rs.

Activate Short/Mid/Long-term S/R Formation Alert – Activate S/R formation alerts for short/mid/long-term S/Rs.

Panel Settings

Info panel position – Position of the info panel.

Show price distance to Short/Mid/Long-term S/R – If set to Yes, it shows the price distance to the nearest short/mid/long-term S/R.

Show Risk:Reward using Short/Mid/Long-term S/R – If set to Yes, it shows the Risk:Reward ratio for short/mid/long-term S/Rs.

Info Panel font – Set info panel font.

Info Panel font size – Set info panel font size.

Color labels based on Risk:Reward – If set to Yes, the indicator will color the labels based on the Risk:Reward value.

Very High Risk:Reward value – Values >= this setting are considered very high.

High Risk:Reward value – Values >= this setting are considered high.

Low Risk:Reward value – Values <= this setting are considered low.

Very Low Risk:Reward value – Values <= this setting are considered very low.

Very High Risk:Reward font color – Font color for very high R:R.

High Risk:Reward font color – Font color for high R:R.

Neutral Risk:Reward font color – Font color for neutral R:R (neutral R:R is an R:R between low and high R:R).

Low Risk:Reward font color – Font color for low R:R.

Very Low Risk:Reward font color – Font color for very low R:R.

Alert Customization Settings

Price within this ATR for ST Nearby Alert – Nearby alert will activate once price is within this multiplier of the average true range (ATR) of a short-term S/R.

Price within this ATR for MT Nearby Alert – Nearby alert will activate once the price is within this multiplier of the average true range (ATR) of a mid-term S/R.

Price within this ATR for LT Nearby Alert – Nearby alert will activate once the price is within this multiplier of the average true range (ATR) of a long-term S/R.

ST/MT/LT S/R Nearby Alert bars – Choose between alerting on the first tick or first close for a short-term/mid-term/long-term S/Rs nearby bar.

ST/MT/LT S/R Breakout Alert bars – Choose between alerting on the first tick or first close for short-term/mid-term/long-term S/Rs breakouts.

Appearance Settings

In this section, you can customize the line colors, width and styles.

Show price tags – If set to Yes, price tags of supports/resistances are shown on the chart.

Other Settings

Send alerts by push notification – If set to Yes, alerts will be sent by push notification to your smartphone’s Metatrader.

Send alerts by email – If set to Yes, alerts will be sent to your email.

Write alerts in chart – If set to Yes, alerts will be written on the chart.

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Disclaimer

The information contained in this website is for general information purposes only. The information is provided by Analytical Trader and while we endeavour to keep the information up to date and correct, we make no representations or warranties.

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CFTC RULE 4.41 - HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT TRADING RESULTS.