Support and Resistance Bands + Arrow Alerts (MT4 and MT5)

• Version 1
• Download 77
• File Size 43.98 KB
• File Count 1
• Create Date July 25, 2023
• Last Updated February 27, 2025

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Support and Resistance Bands + Arrow Alerts (MT4 and MT5)

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The Support and Resistance Bands + Arrow Alerts indicator displays a Lower band (Support Band) and an Upper band (Resistance Band) based on your selected support and resistance look back interval (Support and Resistance Interval can be increased or decreased in the indicator 'Input' settings). This indicator is 100% non-repainting and is the most ideal way to back-test current and past support and resistance levels. This indicator also includes Arrow Alerts to give you visual of potential Buy and Sell levels and also provides alerts when price/candle-close is at a support or resistance level with excellent accuracy. The arrow alerts are also 100% non-repainting. The download file (.zip file) includes both MT4 and MT5 file versions.

Full Features of the Support and Resistance Bands + Arrow Alerts (MT4 and MT5)

The Support and Resistance Bands + Arrow Alerts indicator also includes the following feature options:

Band 2 (Inner band): An optional inclusion of a second inner-band to give you indication when price is closer to the support or resistance zone. You have the option to turn this ON/OFF in the indicator inputs settings.

Arrow Alerts for Band 1:  Provides Arrow Alerts when price/candle-close crosses and closes over band 1. You have the option to turn this ON/OFF in the indicator inputs settings.

Arrow Alerts for Band 2:  Provides Arrow Alerts when price/candle-close crosses and closes over band 2. You have the option to turn this ON/OFF in the indicator inputs settings.

Band Center Line: An optional inclusion of a center line between the support and resistance bands. This center line is also an ideal way to determine pullback points during a trending market. You have the option to turn this ON/OFF in the indicator inputs settings.

Notes and recommendations: Avoid using during 15-20 minutes before and after high impact news. Should be used with a reliable strategy, proper market analysis and added confirmations to suggest high probability win trade. Take caution during NFP (Non-farm payroll) week, try to avoid trading during NFP week.

Arrow Style Types Table: (Go to Arrow Styles Types page for more details and instructions)

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