This a bollinger band indicator with an extra deviation level.
If you keep the period at 25 and deviations of 1.0 and 2.0, It will show you all your resistance and support lines. And also overbought and oversold levels.
MT4 Indicator Download – Instructions
Support and resistance levels is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Support and resistance levels provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Support and resistance levels.mq4?
- Download Support and resistance levels.mq4
- Copy Support and resistance levels.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Support and resistance levels.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Support and resistance levels.mq4 is available on your Chart
How to remove Support and resistance levels.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: