MT4 Indicator Support Resistance Levels

MT4 Indicator Support Resistance Levels "i-BJF-SupResLines"  " Conception

i-BJF-SupResLines indicator draws support and resistance lines on the chart. Support levels located below the market. Resistance levels located above the market. You can use the indicator on 4-digit accounts and 5-digit accounts. Support and resistance levels match significant tops.

Essentially every significant top is extended fractal with 2 periods: amount of bars prior the top and amount of bars after the top. Indicator has the option (BarsBack) how many bars in the history process for search. You can add verical offset (SupRes.VShiftPips option) for support and resistance levels. 

Example:

Lower Top = 1.3000

SupRes.VShiftPips = 10 pips

Support level will be paint on  1.3000 - 10 pips = 1.2990

 Upper Top = 1.3500

SupRes.VShiftPips = 20 pips

Resistance level will be paint on  1.3500 + 20 pips = 1.3520  

Attached on the chart the indicator checks the current timeframe and higher timeframes to detect and draw support and resistance levels. 

Example:

On M30 timeframe will be paint levels from M30, H1, H4, D1, W1, MN

On H4 timeframe will be paint levels from H4, D1, W1, MN

On W1 timeframe will be paint levels from W1 and MN 

You can set on/off for every timeframe. 

Example:

extern bool TF.M15 = true;

extern bool TF.M30 = false;

extern bool TF.H1 = false;

extern bool TF.H4 = true;

extern bool TF.D1 = true;

extern bool TF.W1 = false;

extern bool TF.MN = false; 

If you attached the indicator on M15 timeframe then on the chart will be paint only levels from M15, H4, D1 

Every timeframe has unique color, line style and line width options. 

There are 2 versions of the indicator: standard and with alerts.The version with alerts triggers popup, email and sound alerts on the cross of support or resistance line by the market.

MT4 Indicator Support Resistance Levels  Options

extern string _tmp1_ = " --- Common ---";
extern int AccDigits = 5; // set 4 or 5
extern int BarsBack = 50; // how many bars back in the history use for search of S&R levels
extern int SupResTop.BarsLeft = 25;
extern int SupResTop.BarsRight = 5; // amount of bars prior the top and amount of bars after the top to count it as significant top
 extern int SupRes.VShiftPips = 0; // you can add verical offset (pips) for support and resistance levels.
extern string _tmp2_ = " --- TimeFrames ---";
extern bool TF.M1 = false;
extern bool TF.M5 = false;
extern bool TF.M15 = false;
extern bool TF.M30 = false;
extern bool TF.H1 = true;
extern bool TF.H4 = true;
extern bool TF.D1 = true;
extern bool TF.W1 = true;
extern bool TF.MN = true;
// timeframes on/off
extern string _tmp3_ = " --- Graphic ---";
extern color TF.M1.color = Gold;
extern int   TF.M1.style = STYLE_DASH;
extern int   TF.M1.width = 1;
// color, line style and line width for every timeframe
extern color TF.M5.color = MediumOrchid;
extern int   TF.M5.style = STYLE_DASH;
extern int   TF.M5.width = 1;
extern color TF.M15.color = LimeGreen;
extern int   TF.M15.style = STYLE_DASH;
extern int   TF.M15.width = 1;
extern color TF.M30.color = Orange;
extern int   TF.M30.style = STYLE_DASH;
extern int   TF.M30.width = 1;
extern color TF.H1.color = DarkSeaGreen;
extern int   TF.H1.style = STYLE_DASH;
extern int   TF.H1.width = 1;
extern color TF.H4.color = DodgerBlue;
extern int   TF.H4.style = STYLE_DASH;
extern int   TF.H4.width = 1;
extern color TF.D1.color = Red;
extern int   TF.D1.style = STYLE_DASH;
extern int   TF.D1.width = 1;
extern color TF.W1.color = Yellow;
extern int   TF.W1.style = STYLE_DASH;
extern int   TF.W1.width = 1;
extern color TF.MN.color = LightGray;
extern int   TF.MN.style = STYLE_SOLID;
extern int   TF.MN.width = 2;  

What new

We have added rectangles instead of trendlines. Now you can expand Support or Resistance lines to Support or Resistance zones.

New options added:

extern int SupRes.ExtraPipsAbove = 3;

extern int SupRes.ExtraPipsBelow = 3;

extern int SupRes.ForwardBars = 10;

extern bool SupRes.DrawAsBackground = false;