Forex Icarus Auto Dynamic Support and Resistance MT4 Indicator:
About the Forex Icarus Auto Dynamic Support and Resistance MT4 Indicator
The Icarus Auto Dynamic Support and Resistance Indicator provides a highly advanced, simple to use tool for identifying high-probability areas of price-action automatically – without any manual input whatsoever. .
All traders and investors understand the importance of marking horizontal levels on their charts, identifying areas of supply and demand, or support and resistance. It is time-consuming and cumbersome to manually update all instruments, across all timeframes, and it requires regular manual updates, which are subject to human error and time limitations.
The Icarus Auto Dynamic Support and Resistance Indicator is the ultimate solution for live, automatically generated support and resistance levels. Critically, the indicator will automatically adjust the forward drawn support and resistance lines as price action creates new levels of supply and demand.
Features and Benefits include:
- 3 Alternate Timeframes included on each chart. Ie: show the 15minute, Hourly and Daily Levels, automatically generated and printed to ANY chart timeframe
- Fully customisable colour and theme input
- Full sensitivity customisation, ensuring your preferred settings are applied to all charts, automatically
- Look back 1000’s of bars to generate levels, from each of the 3 selected timeframe
- Controls for the removal of the weakest % of generated levels, cleaning up any ‘price noise’ which might appear
- Totally dynamic and automatically generated, ensuring users NEVER need to manually draw levels again
- Applicable to ALL instrument types and timeframes
Input Parameters Included:
- 3 Separate Timeframes
- Individual ‘true/false’ settings for each
- Support and Resistance Line customisation for thickness and colour
- Swing Strength, allowing for the input of bars ‘forward and backwards’ from which the level may be created.
- Tolerance ATR, allowing multiple levels close together to be amalgamated when within close proximity
- Maximum Bars per timeframe, allowing the increased frame of reference for the generation of support and resistance zones
- Remove Weakest Level by %, ensuring users can apply only the most valid of levels to be displayed
The Icarus Auto Dynamic Support and Resistance Indicator is the ultimate tool to easily and quickly add key crtiical levels, across multiple timeframes to ANY tradeable instrument.
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)