Forex Dynamic Auto Resistance Support Indicator:
This technical indicator detects constant price zones and draws resistance and support lines.
It checks the market movement for any market and any time frame. If a bar is not abnormally large, the indicator checks back and searches for other bars within the same price zone.
If enough candles are found, it draws lines on this level. The lines will continued till the next zone is identified.
- InpBacklook (5-xxxx) – Amount of candles to scan and detect other candles in the same range;
- InpAccurency (10.0 – 100.0) – Required candles in back look range to match requirements in percent.
Copy and paste the file into the MQL5 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)