How to use the Support and resistance helper MT5 Indicator

This indicator can help you draw support and resistance lines. This one displays trend extremes (max and min), which can be used as support and resistance points for determining current trend channels. It’s a simple indicator that finds the highest and lowest points over a period of time and marks them with dots.

This indicator is a a very simple custom indicator that shows the chart’s local tops and bottoms with red and blue dots near them. It examines the highest and minimum values during a given time period, compares them to the trading range for any asset, and if the top/bottom is significant enough, it is marked with a dot. Because the dots’ locations may vary when the indicator redraws, it should not be utilized to generate trading signals.

How to use the Support and reistance hyelper MT5 Indicator
How to use the Support and reistance hyelper MT5 Indicator

It is critical to recognize that this indicator cannot be utilized to generate genuine trading signals. You can’t sell when the red dot appears or buy when the blue dot shows, for example, or you’ll lose money. This indicator is only useful for locating support and resistance levels fast.

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