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As Forex trading continues to evolve, so do the tools traders use to analyze and execute their strategies. Among these, the MT5 Support and Resistance Dashboard stands out as a significant time-saver for those utilizing support and resistance zones in their trading plans.

Multi-Timeframe and Multi-Symbol Scanner

The MT5 Dashboard performs as a multi-timeframe and multi-symbol scanner. It detects support and resistance zones across all timeframes and symbols. Furthermore, it alerts the trader when the price interacts with these zones. This alert system is beneficial for traders who incorporate other strategies in their trading. They can use the dashboard to avoid getting trapped in support and resistance zones.

Informative Dashboard

The MT5 Dashboard is designed with user-friendly features. It indicates if the price is interacting with support and resistance zones from M1 to W1 timeframes for all defined symbols. The cell text displays the strength of support and resistance zones, and the cell color indicates the type of support and resistance zone. The pivot column shows the type and timeframe of pivot point levels when the price breaches or returns to them. By clicking on any of the dashboard cells, the nearest S/R zones to the price and pivot levels on the new chart are displayed.

Zones Strengths

Support and Resistance Zones in the MT5 Dashboard come with varying strengths, including weak, untested, verified, proven, and broken. Weak zones are important high and low points in trends. Untested zones are significant turning points in the price chart that the price has not touched again. Verified zones are strong, with price touching them before but not breaking them. Proven zones are areas that the price couldn’t break at least four times. Broken zones are areas that the price has broken, which does not apply to weak zones.

Pivot Points Features

The MT5 Dashboard identifies daily, weekly, and monthly pivot point levels on the chart. Traders can receive alerts when the price breaks a pivot point level or returns to it. The pivot point calculation types include standard, Fibonacci, camarilla, Woodie, and Demark.

Powerful Alert Filters

The MT5 Support and Resistance Dashboard features five powerful alert filters. These filters help ignore low-quality alerts and find the best prices for order setups. The filters include minimum candle height and minimum.

FAQs

Can the MT5 Dashboard be used in the strategy tester?

No, the MT5 Dashboard is not compatible with the strategy tester. However, a demo version is available for download for users to explore its features and functionalities.

Where can independent testing of the MT5 Dashboard be found?

Independent testing of the MT5 Dashboard can be found on the forexroboteasy.com website. Users can also subscribe to updates on the results of testing this product.

We invite readers to share their experiences of using the MT5 Support and Resistance Dashboard. This review is independent, and the product is not affiliated with the reviewer.

Review: MT5 Support and Resistance Dashboard

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