The Dynamic Balance Point with Support and Resistance indicator for Metatrader 5 creates buy and sell signals line based on support and resistance.
The indicator is multi-timeframe analysis enabled by default and can be used as a standalone trading strategy.
It appears as a dual-colored line in the main price chart window.
The indicator uses two colors to determine the buying and selling state:
- A blue colored signal line marks an uptrend.
- A brown colored signal line marks a downtrend.
Please make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
It helps to build confidence in using the indicator’s trading signals.
The indicator supports all possible time frames and trading instruments supported by the MT5 trading platform.
Configurable parameters and input settings: dynamic balance point period, dynamic balance point time frame, colors, line style.
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Dynamic balance point – support and resistance.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Dynamic Balance Point with Support and Resistance indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Dynamic Balance Point With Support And Resistance Indicator?
Find a simple trading example below:
Buy Signal
- The start of the blue colored line is a buy trade entry.
- Execute a buy trade and add a stop loss below the most recent swing low level.
- Exit the buy trade for a fixed take profit or wait for the brown colored signal line.
Sell Signal
- The start of the brown colored line is a sell trade entry.
- Execute a sell trade and add a stop loss above the most recent swing high level.
- Exit the sell trade for a fixed take profit or wait for the blue colored signal line.
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Dynamic balance point – support and resistance.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Dynamic balance point – support and resistance.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration
