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Dynamic Support & Resistance Indicator For MT5

    The dynamic Support & Resistance indicator for Metatrader 5 add dynamic S & R levels on the price chart that can be utilized for accurate breakout trading.

    It pops up on the main chart window showing two horizontally aligned solid lines: a red line representing resistance and a green line representing support.

    The indicator supports all time frames and trading instruments offered by your MT5 broker.

    Trade logic:

    • A breakout above the red resistance line generates a buy signal.
    • A breakout below the green support line generates a sell signal.

    The following indicator inputs can be modified: look back, accuracy, colors, and style.

    Make yourself familiar with this technical indicator and test it first on a demo account until you fully understand how it works.

    Download Indicator 🆓

    dynamicresistancesupport.mq5 Indicator (MT5)

    Chart Example

    The picture below shows how the Dynamic Support & Resistance indicator looks like when applied to the MT5 chart.

    How To Buy And Sell Forex Pairs With The Dynamic Support & Resistance Indicator?

    Find a simple trading example below:

    Buy Signal

    • A buy signal is triggered when the candle closes above the upper red colored dynamic resistance line.
    • Open a buy trade and place a stop loss order below technical swing support.
    • Based on your chosen time frame, exit the buy trade to secure a profit ranging from 15 to 50 pips.

    Sell Signal

    • A sell signal is triggered when the candle closes below the lower green colored dynamic support line.
    • Open a sell trade and place a stop loss order above technical swing resistance.
    • Based on your chosen time frame, exit the sell trade to secure a profit ranging from 15 to 50 pips.

    Download Now 🆓

    dynamicresistancesupport.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 dynamicresistancesupport.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
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