# MT4 indicator (or EA) which calculates support and resistance points?



## Stormin_Norman (10 January 2009)

hi all 

do any of you know of a good indicator (or part of an EA) which calculates support and resistance points well?


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## white_goodman (10 January 2009)

*Re: MT4 indicator (or EA)*



Stormin_Norman said:


> hi all
> 
> do any of you know of a good indicator (or part of an EA) which calculates support and resistance points well?




off to forexfactory with you your answer will get much better replies their... that or forextsd


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## Stormin_Norman (10 January 2009)

*Re: MT4 indicator (or EA)*



white_goodman said:


> off to forexfactory with you your answer will get much better replies their... that or forextsd





fxtsd is a good forum. i pay for their elite membership; i have asked there too.

given the smaller nature of this forum i thought i might ask on here too.


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## white_goodman (10 January 2009)

*Re: MT4 indicator (or EA)*



Stormin_Norman said:


> fxtsd is a good forum. i pay for their elite membership; i have asked there too.
> 
> given the smaller nature of this forum i thought i might ask on here too.




what do u pay for elite membership there?


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## glenn_r (10 January 2009)

*Re: MT4 indicator (or EA)*

Maybe one of these is what your after.

http://www.forexmt4.com/_MT4_Indicators/


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## Stormin_Norman (11 January 2009)

*Re: MT4 indicator (or EA)*



white_goodman said:


> what do u pay for elite membership there?




$US10 a month i think.


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## Stormin_Norman (11 January 2009)

*Re: MT4 indicator (or EA)*



glenn_r said:


> Maybe one of these is what your after.
> 
> http://www.forexmt4.com/_MT4_Indicators/




i was hoping to sponge off someone else's testing  

like i said, ive tested a few but am not really happy with any ive tried so far. ill keep going and let everyone know if i find one i like.


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## fapturbo (11 January 2009)

*Re: MT4 indicator (or EA)*



Stormin_Norman said:


> i was hoping to sponge off someone else's testing
> 
> like i said, ive tested a few but am not really happy with any ive tried so far. ill keep going and let everyone know if i find one i like.




Try this one mate.

http://www.sendspace.com/file/310huw

http://www.forex-tsd.com/indicators-metatrader-4/16518-mtf-support-resistance-indicator-2.html


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## white_goodman (11 January 2009)

*Re: MT4 indicator (or EA)*

http://www.forex-tsd.com/general-discussion/8003-how-use-support-resistance-effectively.html

let me know if you find something good cos i always feel my hand drawn ones are wrong, using extremes etc


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## fapturbo (11 January 2009)

*Re: MT4 indicator (or EA)*

How about a rate of change of a moving average indicator for MT4?

Do these exist?

For example

[Moving Average Value(x) - Moving Average Value(x-a)] / ATR(y)

Plain english this means take the value of the moving average from the last candle on the chart. Take the value of the moving average say a=5 candles ago. Then divide this number by an ATR(value y for example)

The variables that need to be able to be modified in this formula would be the length of the Moving Average. Say Moving Average = 200 Period. The Number of Candles ago we compare to. For example the Moving Average Value say 20 Candles ago, and the ATR Value.

Use the ATR to measure the Rate of Change because the ATR is a more true representation for each chart because each chart has different ATR's. 

This would basically measure the slope of the Moving Average. The higher the slope the better the trend.

It could be useful for a trend following. Say if Rate of Change of Moving Average was not high enough then no trade.


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## Stormin_Norman (11 January 2009)

*Re: MT4 indicator (or EA)*

yeah, we've done the code for that. just waiting till we've got good test results on the current part before we ad the next bit.

it doesnt need to be that complicated i dont think.

just need to use the simple rise over run formula. putting in variables for the rise and run should also allow it to be tested against data to find out how different degrees and length of trends effect the result.

(i think you said the same thing, just in maths talk)


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## fapturbo (11 January 2009)

*Re: MT4 indicator (or EA)*



Stormin_Norman said:


> yeah, we've done the code for that. just waiting till we've got good test results on the current part before we ad the next bit.
> 
> it doesnt need to be that complicated i dont think.
> 
> ...




Every Chart has different levels of ATR. It is more important to measure it in terms of an ATR as compared to absolute terms.

How about Moving Average Bands. Not bollinger bands. A simple moving average that is plotted onto the chart which is seperated by a multiple of an ATR.

For example a 10 Period Moving Average + 2atr(5) and 10 Period Moving Average - 2atr(5)

Effectively looking for spikes outside of the bands.


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## Stormin_Norman (11 January 2009)

*Re: MT4 indicator (or EA)*

what will ATR give me of use though? i know what it measures, i mean what's the logic behind adding it to figure out trend strength (ie the slope of the MA line).

(forgive me im a minimalist when it comes to indicators + trading).


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## fapturbo (11 January 2009)

*Re: MT4 indicator (or EA)*



Stormin_Norman said:


> what will ATR give me of use though? i know what it measures, i mean what's the logic behind adding it to figure out trend strength (ie the slope of the MA line).
> 
> (forgive me im a minimalist when it comes to indicators + trading).




Using the ATR Value will help smooth the Value and give a more accurate representation of trend.


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## kingie_d (16 January 2009)

*Re: MT4 indicator (or EA)*

fapturbo,
I have a nice indicator which does what you want. You can set ATR period, MA period, and have 3 different factors of ATR for the bands. 
I can't attach the .mq4 file (it says invalid file).  Does anyone know if we can attach metatrader (.mq4) files to posts? 
Otherwise do a search on Forexfactory or google. It is called "ATR Channels"

Kingie


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## fapturbo (17 January 2009)

*Re: MT4 indicator (or EA)*



kingie_d said:


> fapturbo,
> I have a nice indicator which does what you want. You can set ATR period, MA period, and have 3 different factors of ATR for the bands.
> I can't attach the .mq4 file (it says invalid file).  Does anyone know if we can attach metatrader (.mq4) files to posts?
> Otherwise do a search on Forexfactory or google. It is called "ATR Channels"
> ...





Thanks

That is just what i was looking for...


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## lesm (17 January 2009)

*Re: MT4 indicator (or EA)*



kingie_d said:


> fapturbo,
> I have a nice indicator which does what you want. You can set ATR period, MA period, and have 3 different factors of ATR for the bands.
> I can't attach the .mq4 file (it says invalid file).  Does anyone know if we can attach metatrader (.mq4) files to posts?
> Otherwise do a search on Forexfactory or google. It is called "ATR Channels"
> Kingie




You can change the file suffix from '.mq4' to '.txt' and then attach it. Note: If using this approach anyone downloading it will need to chnage the file suffix back to ".mq4".

Alternatively, open the '.mq4' file using notepad, then copy and paste the code into your post.

If copying it into a post, enclose the code between the "code" "/code" tags.

For example:


```
//+------------------------------------------------------------------+
//|                                                 ATR Channels.mq4 |
//|                         Copyright  © 2005, Luis Guilherme Damiani |
//|                                      http://www.damianifx.com.br |
//+------------------------------------------------------------------+

#property copyright "Copyright  © 2005, Luis Guilherme Damiani"
#property link      "http://www.damianifx.com.br"
#property indicator_chart_window
#property  indicator_buffers 7
#property  indicator_color1  Lime       //Moving Average
#property  indicator_color2  Aqua // Lower band 1
#property  indicator_color3  Yellow // Upper band 1
#property  indicator_color4  DodgerBlue        // Lower band 2
#property  indicator_color5  Orange        // Upper band 2
#property  indicator_color6  Blue         // Lower band 3
#property  indicator_color7  Red         // Upper band 3
//---- indicator buffers
double MA_Buffer0[];
double Ch1up_Buffer1[];
double Ch1dn_Buffer2[];
double Ch2up_Buffer3[];
double Ch2dn_Buffer4[];
double Ch3up_Buffer5[];
double Ch3dn_Buffer6[];
//---- input parameters
extern int    PeriodsATR = 18;
extern int    MA_Periods = 49;
extern int    MA_type = MODE_LWMA;
extern double Mult_Factor1 = 1.6;
extern double Mult_Factor2 = 3.2;
extern double Mult_Factor3 = 4.8;
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   string mat;
//---7- indicators
// MA
   SetIndexStyle(0, DRAW_LINE);
   SetIndexBuffer(0, MA_Buffer0);
   SetIndexDrawBegin(0, MathMax(PeriodsATR, MA_Periods));
  // ATR 1 up
   SetIndexStyle(1, DRAW_LINE);
   SetIndexBuffer(1, Ch1up_Buffer1);
   SetIndexDrawBegin(1, MathMax(PeriodsATR, MA_Periods));
   string  sATRu1 = StringConcatenate("ATRu(", PeriodsATR, ", ", Mult_Factor1, ")"); 
   SetIndexLabel(1, sATRu1);
  // ATR 1 down
   SetIndexStyle(2, DRAW_LINE);
   SetIndexBuffer(2, Ch1dn_Buffer2);
   SetIndexDrawBegin(2, MathMax(PeriodsATR, MA_Periods));
   string  sATRd1 = StringConcatenate("ATRd(", PeriodsATR, ", ", Mult_Factor1, ")"); 
   SetIndexLabel(2, sATRd1);
// ATR 2 up
   SetIndexStyle(3, DRAW_LINE);
   SetIndexBuffer(3, Ch2up_Buffer3);
   SetIndexDrawBegin(3, MathMax(PeriodsATR, MA_Periods));
   string  sATRu2 = StringConcatenate("ATRu(", PeriodsATR, ", ", Mult_Factor2, ")"); 
   SetIndexLabel(3, sATRu2);
  // ATR 2 down
   SetIndexStyle(4, DRAW_LINE);
   SetIndexBuffer(4, Ch2dn_Buffer4);
   SetIndexDrawBegin(4, MathMax(PeriodsATR, MA_Periods));
   string  sATRd2 = StringConcatenate("ATRd(", PeriodsATR, ", ", Mult_Factor2, ")"); 
   SetIndexLabel(4, sATRd2);
   // ATR 3 up
   SetIndexStyle(5, DRAW_LINE);
   SetIndexBuffer(5, Ch3up_Buffer5);
   SetIndexDrawBegin(5, MathMax(PeriodsATR, MA_Periods));
   string  sATRu3 = StringConcatenate("ATRu(", PeriodsATR, ", ", Mult_Factor3, ")"); 
   SetIndexLabel(5, sATRu3);
  // ATR 3 down
   SetIndexStyle(6, DRAW_LINE);
   SetIndexBuffer(6, Ch3dn_Buffer6);
   SetIndexDrawBegin(6, MathMax(PeriodsATR, MA_Periods));
   string  sATRd3 = StringConcatenate("ATRd(", PeriodsATR, ", ", Mult_Factor3, ")"); 
   SetIndexLabel(6, sATRd3);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   if(Bars <= MathMax(PeriodsATR, MA_Periods))
       return(0);
   int fixed_bars = IndicatorCounted();
//---- check for possible errors
   if(fixed_bars < 0) 
       return(-1);
//---- last counted bar will be recounted
   if(fixed_bars > 0) 
       fixed_bars--;
   int limit = Bars - fixed_bars;
//----
   for(int i = 0; i < limit; i++)
     {
       double atr = iATR(NULL, 0, PeriodsATR, i);
       double ma = iMA(NULL, 0, MA_Periods, 0, MA_type, PRICE_TYPICAL, i);
       MA_Buffer0[i] = ma;
       Ch1up_Buffer1[i] = ma + atr*Mult_Factor1;
       Ch1dn_Buffer2[i] = ma - atr*Mult_Factor1;
       
       Ch2up_Buffer3[i] = ma + atr*Mult_Factor2;
       Ch2dn_Buffer4[i] = ma - atr*Mult_Factor2;
       
       Ch3up_Buffer5[i] = ma + atr*Mult_Factor3;
       Ch3dn_Buffer6[i] = ma - atr*Mult_Factor3;
     }  
//----
   return(0);
  }
//+------------------------------------------------------------------+
```


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## Stormin_Norman (17 January 2009)

*Re: MT4 indicator (or EA)*

does anyone have the mt4 yo yo exit? its an ATR exit.


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## macca (17 January 2009)

*Re: MT4 indicator (or EA)*

Hi,

Lets see if this works, trying to attach the ATR channel MQ4,

<<You can change the file suffix from '.mq4' to '.txt' and then attach it. Note: If using this approach anyone downloading it will need to change the file suffix back to ".mq4".>>>

Save to somewhere, rename to .MQ4 and enter into "indicators"


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## Wysiwyg (18 January 2009)

*Re: MT4 indicator (or EA)*



Stormin_Norman said:


> hi all
> 
> do any of you know of a good indicator (or part of an EA) which calculates support and resistance points well?





I`m way behind you stormin and too many indicators for me, nevertheless here is a list of indicators with support/resistance under alphabetical S and also pivot point indicators under P. 

FOREX TRADING INDICATORS


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## Page (19 January 2009)

*Re: MT4 indicator (or EA)*

There are many people around who relay on MT4 because it has become a popular auto-trading platform between many brokers also.


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## Stormin_Norman (19 January 2009)

*Re: MT4 indicator (or EA)*

yeah, i can find lots of them. was more just asking if anyone had a favourate one


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## Wysiwyg (14 April 2009)

*Re: MT4 indicators*

Instead of starting a new thread just for this one indicator I thought it okay to put it here.Multi time frame indicator for MT4.


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## Stormin_Norman (14 April 2009)

what's that indicator telling us?


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## Wysiwyg (14 April 2009)

Stormin_Norman said:


> what's that indicator telling us?




Based on short period Moving Average, blue line indicates bullish and red line indicates bearish.


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## niftytrader (2 May 2009)

Nice "What you see is what you get" 

will check out..thanks for sharing
Cheers


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## Stormin_Norman (2 May 2009)

finally found one i liked.


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## jefito (9 November 2010)

Stormin_Norman said:


> finally found one i liked.




Hi, How do I instal in Mt4 this indicator what file.
Thank you


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## Gorgesmith (4 April 2017)

MT4 indicator calculates and displays pivot points, These help our day to day forex trading and works with amazing accuracy.


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