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Automatic Parabolic Support and Resistance Levels Indicator indicator for MetaTrade

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Old 01-03-2018, 14:59
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Default Automatic Parabolic Support and Resistance Levels Indicator indicator for MetaTrade

brooky-psar-levels-whitebg_1.gif

This indi will draw the levels and then delete if older than your selected bars. The turn is calculated on above/below opens not closes as that seems to get most of the turns and this makes it slightly different than just the dots from a programing point of view.

I prepared a video to show it in use with Bollinger bands as this seemed to illustrate how the indi worked quite well. You can have a look if you like here>>. Parabolic S&R Levels Video.

Very basically the more previous crosses in bars past that are close together show the strength of the resistance/support level. I have noticed that price tends to want to break

into clear ground which is easy to see as clear chart area.

How to install Automatic Parabolic Support and Resistance Levels Indicator indicator for MetaTrader 4.mq4?


    Download Automatic Parabolic Support and Resistance Levels Indicator indicator for MetaTrader 4.mq4
    Copy Automatic Parabolic Support and Resistance Levels Indicator indicator for MetaTrader 4.mq4 to your Metatrader Directory / experts / indicators /
    Start or restart your Metatrader 4 Client
    Select Chart and Timeframe where you want to test your MT4 indicators
    Search "Custom Indicators" in your Navigator mostly left in your Metatrader 4 Client
    Right click on Automatic Parabolic Support and Resistance Levels Indicator indicator for MetaTrader 4.mq4
    Attach to a chart
    Modify settings or press ok
    Indicator Automatic Parabolic Support and Resistance Levels Indicator indicator for MetaTrader 4.mq4 is available on your Chart

How to remove Automatic Parabolic Support and Resistance Levels Indicator indicator for MetaTrader 4.mq4 from your Metatrader Chart?


    Select the Chart where is the Indicator running in your Metatrader 4 Client
    Right click into the Chart
    "Indicators list"
    Select the Indicator and delete

Click here below to download:

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