Support & Resistance Breakout Indicator for MT5 Download - Free - [TFlab]

The Support and Resistance Breakout Indicator (SRBA) is a tool for identifying price levels using pivot points. The SRBAI indicator, available among MetaTrader 5 indicators, assists traders in pinpointing key levels on the chart.

The SRBAI indicator, designed for MetaTrader 5 (MT5), determines support levels (in blue) and resistance levels (in red). When the price breaks above or below these levels, it issues a buy signal (blue arrow) or a sell signal (red arrow) and displays these signals as alerts on the chart.

Indicator table

Resistance Breakout Signal

In the 30-minute chart of (XAUUSD), the market's upward movement broke through the resistance level by surpassing the price level of 2398.09. After breaking the price level, the SRBA indicator displayed a buy signal (blue arrow) on the chart.

Support Breakout Signal

In the 1-hour chart of Silver (XAGUSD), the market's downward movement sharply broke through the support level at the price of 29.157. After the support level was broken, the SRBA indicator displayed a sell signal (red arrow) on the chart.

Indicator settings

• RSI_CCI_Filter: Issues more accurate signals using CCI and RSI.
• RSI_Period: Select the RSI period.
• RSI_OverBought: Select the RSI overbought level.
• CCI_Period: Select the CCI calculation period.
• CCI_Buy: Select the CCI buy signal level.
• CCI_Sell: Select the CCI level for sell signals.
• Alerts: Turn on alerts.
• Alert_On_Close: Alerts when the candle closes after crossing the level.

Summary

The Support and Resistance Breakout Indicator (SRBA) helps traders with market analysis by displaying support and resistance levels on the chart. This MetaTrader 5 support and resistance indicator combines the CCI and RSI indicators to provide powerful signals after the breakout of key price levels on the chart.