The Support and Resistance Indicator is a simple yet highly practical MetaTrader tool designed to automatically identify and display key support and resistance levels directly on the chart. These levels help traders quickly visualize important price zones for entry, stop-loss, take-profit placement, and target projection.

The indicator is based on the standard MetaTrader Fractals indicator, following the classic Bill Williams method, and requires no complex configuration. It works seamlessly on both MT4 and MT5, making it suitable for traders of all experience levels.

How the Indicator Works
The indicator analyzes market structure using fractal formations and marks:

• Support levels with blue dots
• Resistance levels with red dots

These levels represent areas where price has previously reversed or stalled, making them highly relevant for future price reactions. By displaying them directly on the chart, the indicator allows traders to instantly see where price is likely to bounce, pause, or break.

A key principle to remember is that:

• Broken support often becomes resistance
• Broken resistance often becomes support

This makes the indicator especially useful for identifying breakouts, pullbacks, and retests.

Key Features

• Automatic detection of support and resistance levels
• Clear visual display directly on the chart
• Based on proven Bill Williams Fractals methodology
• No complex input parameters required
• Works on all timeframes and instruments
• Compatible with MetaTrader 4 and MetaTrader 5

Input Parameters
While the core logic is fixed to ensure consistency, the indicator includes alert options for better trade management:

• EnableNativeAlerts (default = false)
  Displays a MetaTrader popup alert when price closes above resistance or below support.
• EnableEmailAlerts (default = false)
  Sends an email notification when a support or resistance level is broken.
  Email must be configured via Tools → Options → Email.
• EnablePushAlerts (default = false)
  Sends push notifications to your mobile device when a level is breached.
  Notifications must be configured via Tools → Options → Notifications.
• TriggerCandle (default = Previous)
  Determines whether alerts are triggered on the most recently closed candle or the currently forming candle.

Trading Usage & Strategy Example
The Support and Resistance Indicator can be used in multiple ways:

• Set stop-loss and take-profit levels near marked support or resistance zones.
• Trade bounces from support or resistance in ranging markets.
• Trade breakouts when price closes decisively above resistance or below support.
• Use former support as new resistance, and former resistance as new support, after a breakout.

The simplicity of the indicator makes it an excellent foundation for combining with trend, momentum, or volume-based indicators.

Conclusion
The Support and Resistance Indicator for MT4 & MT5 is an essential tool for traders who value clear market structure and price-based decision-making. By automatically plotting key support and resistance levels using a proven fractal method, it simplifies chart analysis and helps traders make more confident trading decisions.

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