Automatic Support & Resistance Indicator for MT4 [Free] TFlab

The Automatic Support & Resistance Indicator (MT4) is a powerful tool in MetaTrader 4, developed to intelligently detect key support and resistance levels by analyzing frequently tested price zones. It visually marks support areas in green and resistance zones in brown, enabling traders to spot market turning points with clarity.
This indicator is particularly effective in identifying price reaction zones, which are frequently used by institutional traders to execute large positions. By automating zone detection, it removes subjectivity from technical analysis, allowing traders to define trade setups with greater precision and confidence.

You can download it from this link:
https://cdn.tradingfinder.com/file/3...4-by-tflab.zip

You can also access the MetaTrader 5 version of this indicator through this page:
https://www.forexfactory.com/thread/...r-for-mt5-free

For instructions on how to install:

https://www.forexfactory.com/thread/...-in-metatrader




Indicator Specifications

Categories
Price Action – Support & Resistance – Supply & Demand
Platform
MetaTrader 4
Skill Level
Elementary
Indicator Type
Range – Entry/Exit – Reversal
Timeframes
Multi-Timeframe
Trading Style
Day Trading – Intraday – Scalping
Markets Supported
Forex – Stock – Indices – Share Stocks
Support Zone in an Uptrend
On the GBP/USD 1-hour chart, the indicator detects a strong support zone, marking it with a dark green rectangle. When price exits this zone and retests it, the color shifts to light green, signaling that the level has been tested.
This visual feedback helps traders spot potential bounce points and confirms buying opportunities when combined with price action or confirmation candles.
Support zone highlighted in green after price retest – GBP/USD H1 chart
Resistance Zone in a Downtrend
In the AUD/CAD 15-minute chart, a resistance zone is identified using a dark brown box. After the price breaks above and pulls back into the zone, the box changes to light brown, indicating the area has been tested.
This color-coded validation system allows traders to anticipate trend continuation or reversal, offering a reliable context for initiating short trades when aligned with bearish price action.
Tested resistance zone highlighted in brown – AUD/CAD M15 chart
Indicator Settings
The Automatic Support & Resistance Indicator includes several customizable parameters for enhanced usability:

1. Support Not Touched: Set the color for untested support zones
2. Support Touched: Set the color for tested support zones
3. Resistance Not Touched: Set the color for untested resistance zones
4. Resistance Touched: Set the color for tested resistance zones
5. Border Color: Define the color for zone borders

Advanced settings of the indicator displayed on the AUD/USD chart
Conclusion
The Automatic Support & Resistance Indicator for MetaTrader 4 is a highly effective tool for detecting high-impact price levels automatically. By highlighting and updating support and resistance zones in real-time, it enables structure-based trading decisions with minimal effort.
Traders using price action strategies will find this indicator particularly valuable for identifying optimal entry and exit points based on market structure, helping improve trade accuracy and overall profitability.