Automatic Support & Resistance Indicator for MT5 Download – Free – [TradingFinder]

The Automatic Support & Resistance Indicator is one of the support & resistance indicators in MetaTrader 5, designed to intelligently identify key price levels.

This indicator displays support zones in green (dark green for new levels and light green after testing) and resistance zones in brown (initially dark brown and lighter after testing), making it an essential tool for identifying critical market points.

By using this powerful tool, traders can conduct in-depth analyses and identify optimal entry and exit points. This indicator is particularly beneficial for price action traders who rely on key price levels for market analysis.

Automatic Support & Resistance Indicator Table

Below are the general specifications of the Automatic Support & Resistance Indicator:

Support Zones in an Uptrend

On the 15-minute timeframe of the GBP/USD currency pair, the Automatic Support & Resistance Indicator identifies a key support zone.

After the price reaches this area and successfully tests it, a bullish reversal occurs, confirming the strength of this support level. Traders can utilize these zones to identify optimal buy entries.

Resistance Zones in a Downtrend

On the 1-minute timeframe of the EUR/USD currency pair, the Automatic Support & Resistance Indicator plots resistance zones as colored boxes.

• New resistance levels appear in dark brown
• Tested levels change to a lighter brown

This feature helps traders identify key resistance areas and locate high-probability sell opportunities.

Automatic Support & Resistance Indicator Settings

Below are the settings for the Automatic Support & Resistance Indicator in MetaTrader 5:

• Support Not Touched: Set the color of untouched support zones;
• Support Touched: Set the color of tested support zones;
• Resistance Not Touched: Set the color of untouched resistance zones;
• Resistance Touched: Set the color of tested resistance zones;
• Border Color: Set the box border color.

Conclusion

The Automatic Support & Resistance Indicator is one of the MetaTrader 5 indicators that accurately detects key price zones. By plotting support zones in green and resistance zones in brown, it assists traders in recognizing crucial market areas.

Using this indicator allows traders to gain deeper insights into price structure and identify high-potential trading opportunities.