Automatic Support & Resistance Indicator for MT5 [Free] TFlab

The Automatic Support & Resistance Indicator for MetaTrader 5 is a dynamic tool that intelligently detects critical price levels by identifying areas of frequent market reaction. It highlights support zones in green and resistance zones in brown, visually distinguishing between new and tested zones through color shading:

1. Dark Green: Newly identified support zone
2. Light Green: Retested support zone
3. Dark Brown: Newly identified resistance zone
4. Light Brown: Retested resistance zone

This system provides a clear, real-time visual structure of the market, making it a valuable asset for traders who base decisions on price action and key level interactions.

You can download it from this link:
https://cdn.tradingfinder.com/file/3...5-by-tflab.zip



You can also access the MetaTrader 4 version of this indicator through this page:
https://www.forexfactory.com/thread/...r-for-mt4-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 5
Skill Level
Elementary
Indicator Type
Range – Entry/Exit – Reversal
Timeframes
Multi-Timeframe
Trading Style
Intraday – Scalping – Day Trading
Markets Supported
Forex – Stock – Indices – Share Stocks
Support Zones in an Uptrend
On the 15-minute GBP/USD chart, the indicator highlights a major support zone. As the price revisits and respects this area, a bullish reversal occurs, confirming the zone's strength.
This validated level acts as a buy trigger for price action traders, offering high-probability entry points with strong technical confluence.
Support zone detection and confirmation – GBP/USD M15 chart
Resistance Zones in a Downtrend
On the 1-minute EUR/USD chart, the indicator plots multiple resistance zones. When the price retests these zones:

1. The zone color transitions from dark brown (untested) to light brown (tested)
2. This visual change signals a potential bearish reaction area

Traders can use this behavior to identify optimal sell setups based on historical resistance behavior.
Color-coded resistance detection – EUR/USD M1 chart
Indicator Settings
The Automatic Support & Resistance Indicator includes flexible settings to suit different chart styles and preferences:

1. Support Not Touched: Set color for new support zones
2. Support Touched: Set color for tested support zones
3. Resistance Not Touched: Set color for new resistance zones
4. Resistance Touched: Set color for tested resistance zones
5. Border Color: Customize the outline color of the zone boxes

Advanced settings interface – GBP/JPY chart in MetaTrader 5
Conclusion
The Automatic Support & Resistance Indicator for MetaTrader 5 is an essential tool for identifying market structure through the automatic plotting of major support and resistance zones.
By simplifying zone detection and marking retests visually, it empowers traders to make high-confidence decisions based on validated price levels. Whether you are a scalper or a swing trader, this indicator delivers actionable insight into entry, exit, and reversal points with minimal subjectivity.