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KG Support & Resistance Indicator for MT5 Download - Free - [TradingFinder]

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KG Support & Resistance Indicator for MT5 Download - Free - [TradingFinder]
KG Support & Resistance Indicator for MT5 Download - Free - [TradingFinder] 0
KG Support & Resistance Indicator for MT5 Download - Free - [TradingFinder] 1
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The KG Support & Resistance Indicator (KG Support & Resistance) is one of the trading assist indicators in MetaTrader 5. With its customized settings, this indicator displays support and resistance zones from different timeframes in distinct colors on the chart.

The plotted levels are highly significant for analysts as price frequently reacts at these zones. However, it should be noted that once these levels are broken, they lose their validity and will no longer be drawn on the chart.

KG Support & Resistance Indicator Settings Table

The features and capabilities of the KG Support & Resistance indicator include the following:

Category

Support & Resistance - Trading Tool - Levels & Zones

Platform

MetaTrader 5

Skill Level

Beginner

Indicator Type

Reversal - Continuation - Breakout

Timeframe

Multi Timeframe

Trading Style

Scalping - Day Trading

Market

Forex - Cryptocurrency - Commodities - Stocks

Uptrend Conditions

An analysis of the 30-minute Gold to US Dollar (XAU/USD) chart shows that the levels drawn by the indicator have played a significant support role.

The price initially touched the 1-hour support zone (light green) and subsequently moved into a bullish trend.

Analysis of KG Support & Resistance Indicator
1-hour support zone of the KG Indicator in the 30-minute Gold chart

Downtrend Conditions

In the analysis of the New Zealand Dollar to US Dollar (NZD/USD) currency pair in the 1-hour timeframe, the price sharply declined after touching the daily resistance zone (pink area), forming a bearish trend.

KG Support & Resistance Zones Indicator
KG Support & Resistance Indicator in the New Zealand Dollar to US Dollar chart

KG Support & Resistance Indicator Settings

The following is an explanation of the settings and configuration of the KG Support & Resistance Indicator:

Settings in KG Support & Resistance Indicator
Overview of the settings panel of the KG Indicator in the MetaTrader 5 platform

Calculation Settings

  • Calculation Price (High/Low): Determines calculations based on highs and lows of price movements

Timeframe Settings

These parameters define which timeframes the indicator should draw support and resistance lines for:

  • Timeframe 1: 15 minutes
  • Timeframe 2: 1 hour
  • Timeframe 3: 4 hours
  • Timeframe 4: 1 day
  • Display Price (High/Low): Displays prices related to the drawn levels

Zone Color Settings

In the Color section, users can customize the color of the support and resistance levels:

  • Color 1,2,3,4: Define the colors of the four support and resistance levels

Zone Shape Settings

These parameters allow for modifying the visual representation of the support and resistance zones:

  • Arrow Code 1,2,3,4: Defines the appearance of support and resistance zones 1, 2, 3, and 4

Size Settings

In the Size section, users can set the size of the support and resistance zones:

  • Size 1,2,3,4: Determines the size of zones 1, 2, 3, and 4
  • Lookback: The number of past candles was considered for calculations

Conclusion

Based on specified input parameters, the KG Support & Resistance Indicator for MetaTrader 5 automatically plots support and resistance zones on the chart.

This MT5 support and resistance indicator highlights key price levels and allows users to customize the colors and visual settings of the zones.

The plotted zones serve as key areas where price reactions are likely, making them useful in analyzing trading instruments.

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FAQs

Which markets is the KG Support & Resistance Indicator suitable for?

The KG Support & Resistance Indicator can be used in all trading markets without limitations.

Is the KG Support & Resistance Indicator only applicable for higher timeframes?

No, this is a multi-timeframe indicator and can be used in all timeframes.

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