Download indicator: KG_Support_and_Resistance.mq4

How to trade with KG_Support_and_Resistance.mq4

This multi-timeframe indicator automatically draws Support and Resistance levels for:
- Daily (D1) in red,
- 4 hour (H4) in blue,
- 1 hour (H1) in green,
- and 15 min (M15) time frames in yellow.

On the 15 min USDCAD chart above the Daily resistance is held beautifully, even though we have a small spike through the level (around 6.5 pips).

We'll talk about S&R more our general topics, but you should note here, that Support and Resistance are not the exact price levels, but rather areas of 10-20 or more pips, where the action occur.
Therefore, the spike through the red D1 line doesn't mean that the D1 Resistance has been broken at that point, but rather quite the opposite - the D1 resistance held well upon the test.

Settings for KG_Support_and_Resistance.mq4

To remove/hide any of the SR lines, change the color of the lines to match your chart background color, as shown on the screenshot below:

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