Dynamic Support and Resistance Indicator MT4
The point at which a trend stops or makes a pause is a support or resistance, depending upon the direction of the move. If it is not confined to a singular point, and reverses from a series of points, in a vicinity, then it is a support zone or resistance zone. The higher highs, higher lows, lower highs and lower lows in a trend move are the support and resistance zone of the market. There isn’t any indicator in default as support and resistance indicator to identify the dynamic supports and resistances, which are created at uncharted territories. However, specific indicators functionalities can be extrapolated to a support and resistance indicator.
Every successful trader knows what support and resistance spots are working. And always know that these points need to be kept in mind. They always trade according to this point.
The support and resistance point indicator operates in two different modes. The first is the standard support and resistance points we know. The second is Fibonacci levels. This indicator automatically calculates and displays the support and resistance points on the screen.
- You can select the time frame you want with the time frame feature.
- You can set the color you want with the color selection feature.
- With the style feature, you can edit these points as you like.