The MTF Support and Resistance Forex indicator for MT4 (Metatrader 4) finds and displays minor and major S&R levels on the trading chart.
MTF stands for multi-time frame.
Support and resistance can be used for trade entry & exit, take profit, and for stop loss placement.
Buy & Sell Trade Example
- Open a buy near support when the market is trending up (buy the dip).
- Open a sell trade near resistance when the market is trending down (sell the rally).
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Mtf resistance support.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the MTF Support and Resistance mt4 indicator in action.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the MTF Support and Resistance Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Support & resistance
Does the indicator repaint? No.
MTF Support & Resistance and Best Scalping Indicator Forex Strategy
The MTF Support Resistance Forex Indicator and the Best Forex Scalping Indicator for MT4 create a simple yet effective short-term trading strategy.
This combination uses real-time support and resistance zones to filter trades while relying on the precise buy and sell signals from the scalping indicator.
The strategy works best on the M5 and M15 charts, making it suitable for traders who prefer quick in-and-out trades within active market sessions.
The MTF Support Resistance indicator marks key price levels that are derived from multiple time frames, allowing traders to identify high-probability reaction zones.
The Scalping Indicator plots blue arrows for buy signals and red arrows for sell signals.
By aligning these signals with the support and resistance levels, traders can enter trades with more confidence and minimize exposure to false breakouts.
Buy Entry Rules
- Wait until the price approaches or touches a support zone drawn by the MTF Support Resistance indicator.
- Watch for a blue arrow to appear from the scalping indicator near or inside this zone.
- Enter a buy trade as soon as the next candle opens after the blue arrow appears.
- Place a stop loss just below the support level or recent swing low.
- Set take profit at the nearest resistance zone or after achieving at least a 1:2 risk-reward ratio.
Sell Entry Rules
- Wait until the price approaches or touches a resistance zone from the MTF Support Resistance indicator.
- Watch for a red arrow from the scalping indicator to appear near or inside this resistance area.
- Enter a sell trade when the next candle opens after the red arrow signal.
- Place a stop loss above the resistance level or the latest swing high.
- Take profit at the next support zone or after reaching a 1:2 risk-reward target.
Advantages
- Combines market structure with precise entry signals.
- Provides clear visual cues that are easy to follow in real time.
- Reduces false entries by confirming trades at major support or resistance levels.
- Works on multiple pairs and short-term charts.
- Ideal for traders who prefer quick trades during high volatility periods.
Drawbacks
- Signals may appear late if market conditions change rapidly.
- False breakouts can still occur during news releases or strong momentum spikes.
- Not well-suited for trending markets with little retracement.
- Requires close monitoring and fast execution due to short time frames.
Case Study 1: EUR/USD M5 Example
On the EUR/USD M5 chart, the MTF Support Resistance indicator displayed a clear support zone around 1.0720.
As the price touched this level, a blue arrow appeared from the scalping indicator.
A buy trade was opened at 1.0723 with a stop loss at 1.0712.
Within 30 minutes, the pair climbed to the next resistance at 1.0745, securing a profit of about 22 pips before exiting at the resistance zone.
Case Study 2: GBP/USD M15 Example
In this scenario, the GBP/USD pair tested a resistance area at 1.2800.
The scalping indicator printed a red arrow near this zone, confirming a potential reversal.
A sell order was opened at 1.2795 with a stop loss at 1.2810.
The pair dropped to 1.2760 over the next hour, generating around 35 pips of profit before showing a blue reversal signal.
Strategy Tips
- Focus on liquid pairs such as EUR/USD, GBP/USD, and USD/JPY for tighter spreads.
- Avoid trading during major economic events to prevent unpredictable volatility.
- Use a trailing stop to lock in profits during strong moves.
- Wait for the price to touch or closely approach support or resistance before acting on any signal.
- Keep risk per trade below 2% to protect your capital during high-frequency setups.
This MT4 scalping strategy combines structure and precision.
The MTF Support Resistance indicator defines key zones where reversals are likely, while the Scalping Indicator provides the timing for entry.
Together, they offer a balanced and disciplined approach to short-term forex trading, perfect for traders who prefer clear signals and frequent opportunities.
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Download the “Mtf resistance support.mq4” indicator for Metatrader 4
