This indicator will plot Support and Resistance areas based on previous candle fractals.
This indicator was created to be used with the BBR Trading assistant and provide an automated way to generate Support and Resistance Areas.
The areas will be plotted in the chart, only 1 Support and 1 Resistance area are plotted at a time (the current one) and it will be auto-replaced after a candle closes outside the zones or as new zones appear.
This indicator only calculates once per bar from the selected timeframe to try to avoid repainting and decrease performance impact.
You can force the indicator to re-calculate and plot/update the zones by changing the timeframe or the symbol in the chart.
This indicator can be used with any version of the BBR Trading Assistant and other Desire To Trade Algos that have an S/R area filter with a “Manual S/R areas” option.
The plotted lines are as follows:
Resistance top = R1
Resistance bottom = R2
Support top = S1
Support bottom = S2
Download the indicator #
- MT4 Version: Check the Bonus Scripts and Resources section in your Member Dashboard
- (This filter is built into Desire To Trade Algos too)