H1, H4, D1 Support And Resistance Forex Indicator - Dolphin Trader

H1, H4, D1 Support and Resistance Forex Indicator

• Category >> Metatrader 4 Indicators

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The SRcandle Forex indicator for Metatrader 4 displays support and resistance levels on the 1 hour, 4 hour and daily chart.

S&R levels are based on the higher time frames and goes as follows:

• H1 (hourly) chart – support and resistance levels are based on the daily chart.
• H4 (4 hour) chart – support and resistance levels are based on the weekly chart.
• D1 (day) chart – support and resistance levels are based on the weekly chart.

Trading Signals

Buy signal:

In an up trend, go long above resistance (buy breakout) or buy near key support levels (buy on dips).

Sell signal:

In a down trend, go short below support (sell breakout) or sell near key resistance levels (sell on rallies).

Indicator Preferences

Currency pairs: all

Time frames: H1, H4, D1

Trading sessions: all

Download

Download the SRcandle.mq4 indicator.

Configurable Indicator Options

Support and resistance color

EUR/USD H1 Chart Example

How to install the H1, H4, D1 Support and Resistance custom indicator in Metatrader 4?

• Download the SRcandle.mq4 indicator to your computer.
• Open your Metatrader 4 platform.
• Open the data folder from the top menu.
• Open the MQL4 folder.
• Open the indicators folder.
• Paste the indicator file in this folder.
• Restart the trading platform.
• Open any trading chart.
• Attach the indicator to the chart.

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