[FREE DOWNLOAD] Support And Resitance MT4 Indicator
Support & Resistance Zones indicator is a powerful MetaTrader 4 tool designed to automatically detect and visualize dynamic support and resistance zones based on adaptive fractal logic. Unlike simple horizontal lines, this indicator identifies price zones—not just single levels—and classifies them by strength, reliability, and historical behavior.
Developed by Denis Frans Fridel, it uses a dual-fractal approach (fast and slow) to distinguish between weak, untested, verified, proven, and even “turncoat” zones—levels that have flipped roles after being breached.
⚙️ Key Features & Functions
- Smart Zone Detection: Automatically draws support/resistance zones using fractal-based swing points.
- Zone Strength Classification:
- Weak: Based only on fast fractals (less reliable).
- Untested: Valid zone but never touched by price yet.
- Verified: Tested 1–3 times and held firm.
- Proven: Tested more than 3 times—highly reliable.
- Turncoat: Previously broken but now acting as support/resistance in the opposite role.
- Visual Clarity: Each zone is color-coded by type (support/resistance) and strength for instant recognition.
- Zone Merging: Overlapping zones are intelligently merged to reduce chart clutter.
- Zone Extension: Zones can be slightly extended beyond the fractal point using a “fuzz factor” for realistic price tolerance.
- Real-Time Labels: Optional on-chart labels show zone type, strength, and test count.
- Multi-Timeframe Support: Analyze zones from the current chart or higher timeframes (M1 to W1).
- Alert System: Optional pop-up, sound, or email alerts when price enters a zone.
- Global Variables Output: Zone data can be exported as global variables for use in Expert Advisors or external tools.
📊 How to Use It
Once applied to your chart, the indicator instantly displays colored horizontal zones:
- Blue/Green shades = Support zones
- Red/Purple shades = Resistance zones
Use these zones to:
- Identify high-probability reversal areas for entries.
- Set stop-loss levels just beyond strong zones.
- Avoid trading near weak or untested zones without confirmation.
- Combine with price action (e.g., pin bars, engulfing patterns) for higher-confidence setups.
The optional zone info labels (e.g., “Proven Support, Test Count=4”) provide real-time context without needing to hover or click.
🎁 Completely Free – No Hidden Costs
This indicator is 100% free and shared openly by developer Denis Frans Fridel to support the global trading community. There are no trials, subscriptions, or external dependencies.
⚠️ Risk Disclaimer
Forex trading carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. This indicator is an analytical tool only and does not guarantee profitable trades. Always use proper risk management.
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Follow updates & support:
📱 Telegram Developer: @DensFridel
🌐 Telegram Channel: DensFridel Strategy
