Multi Timeframe Support and Resistance Zones MT4

MetaTrader 4 (MT4), a renowned Forex trading platform, has introduced an innovative feature – the Multi Timeframe Support and Resistance Zones. This advanced tool is designed to enhance your trading experience by providing valuable insights into market trends and price dynamics. Let’s delve into the intricate details of this remarkable tool.

Multi Timeframe Support and Resistance Zones: What’s Unique?

The Multi Timeframe Support and Resistance Zones indicator is a multi-faceted tool that combines support and resistance zones and pivot points into one comprehensive indicator. It is equipped with a robust filtering system and alert mechanism that notifies traders when there is an interaction between the price and the support or resistance zones. This feature is particularly beneficial for swing trading and range trading strategies.

Moreover, the indicator is designed to identify high probability trend reversals. It provides traders with an excellent tool to avoid getting caught in support and resistance (S/R) zones by checking them before opening a position. The indicator also helps in determining the best levels for stop-loss and take-profit orders.

Powerful Alert Filters for S/R Zones

The Multi Timeframe Support and Resistance Zones indicator is equipped with five powerful filters to ignore low-quality alerts and identify the best levels for order setups. These filters consider factors such as minimum candle height, minimum candle body to height ratio, minimum candle height to zone height ratio, comparison between candle height and the height of previous candles, and comparison between candle body and average body length of previous candles.

Informative Panel: A Quick Overview

The informative panel of the indicator displays the interaction of price with support and resistance zones from M1 to W1 timeframes. It also provides an overview of nested zones at a glance. The panel’s button text indicates the type of support and resistance zones and the timeframes in which price enters, leaves, or breaks a zone. The button color denotes the strength of the support and resistance zone. Additionally, traders can change frequently used settings directly through the panel.

Strength of Support and Resistance Zones

The indicator uses fractals and the Average True Range (ATR) indicator to find and draw support and resistance zones on the price chart. These zones have different strengths, including weak, untested, verified, proven, and broken zones, each having its unique significance in the trading strategy.

Pivot Points Features

The indicator also displays the daily, weekly, and monthly pivot point levels on the chart. It alerts traders when the price breaks a pivot point level or returns to it. The pivot points can be calculated using five different methods: standard, Fibonacci, Camarilla, Woodie, and Demark.

Alert Types and Nested Zones

The indicator offers different alert types, such as when the candle moves into a zone and closes inside it, when the price leaves a zone and closes outside, and also when the price breaks a zone and closes outside of the zone. Additionally, the panel shows if the price enters or leaves support and resistance zones in more than one timeframe at the same time, referred to as nested zones.

Integration with Expert Advisors

The indicator comes with a fast and lightweight version that can be integrated with expert advisors and other indicators. This allows traders to access the values of the nearest S/R zones to price in all timeframes, thereby enhancing the efficiency of their trading strategies.

FAQ

Can I test this product before purchasing?
Yes, you can download a demo version to test on GBPUSD, EURJPY, and NZDUSD symbols.

Where can I watch independent testing of this product?
You can watch independent testing of this product on the forexroboteasy.com website.

Can I subscribe to updates on the results of testing this product?
Yes, you can subscribe to updates on the forexroboteasy.com website.

We invite you to share your experience of using this product. Your feedback can provide valuable insights for other traders considering this tool. Remember, this is an independent product review, and we value your honest opinion.