These zones serve as key areas where price is expected to react, helping traders identify potential trend reversals, breakouts, or continuation setups. Once broken, the zones are no longer valid, maintaining the accuracy of the indicator.
You can download it from this link:
https://cdn.tradingfinder.com/file/2...tflab-v1-2.zip
You can also access the MetaTrader 5 version of this indicator through this page:
https://www.forexfactory.com/thread/...r-mt5-download
For instructions on how to install:
https://www.forexfactory.com/thread/...-in-metatrader
Indicator Specifications- Category: Support & Resistance – Trading Tool – Levels & Zones
- Platform: MetaTrader 4
- Skill Level: Beginner
- Indicator Type: Reversal – Continuation – Breakout
- Timeframe: Multi-timeframe
- Trading Style: Scalping – Day Trading
- Market: Forex – Cryptocurrency – Commodities – Stocks
Uptrend Conditions
On the 15-minute Bitcoin (BTC) chart, the price touches the 4-hour support zone (light blue) and the 1-hour support zone (green). These levels hold as support, and price reacts by reversing upward toward higher levels.
Practical Insight:
- Confirmation with candlestick patterns such as pin bars or engulfing formations near these zones increases signal reliability.
- Ideal for short-term entries aligned with the higher timeframe’s support.
Example:
"Price Interaction with KG Zones in a BTC 15-minute Chart"
Downtrend Conditions
On the 30-minute USD/CHF chart, the price initiates a bearish reversal after interacting with two major resistance zones — the daily (pink) and 4-hour (light blue) levels.
Practical Insight:
- These zones mark strong barriers; price rejection with long upper wicks can serve as entry signals for short positions.
- Excellent for identifying pullback entry zones within a downtrend.
Example:
"Daily and 4-Hour Resistance Zones in USD/CHF Using KG Indicator"
Indicator Settings
The KG Support & Resistance Indicator offers a highly customizable configuration panel for visual clarity and analytical precision.
Key Settings:
Calculation Settings
- Calculation Price (High/Low): Uses price highs/lows for level computation.
Timeframe Settings
Defines which four timeframes to calculate zones for:
- Timeframe 1: 15 Minutes
- Timeframe 2: 1 Hour
- Timeframe 3: 4 Hours
- Timeframe 4: 1 Day
Display Options
- Display Price (High/Low): Show price tags for each zone on the chart.
Zone Color Settings
- Color 1-4: Assigns different colors for each timeframe zone for easy visual distinction.
Zone Shape Settings
- Arrow Code 1-4: Determines visual representation (e.g., arrows or blocks) of each level.
Size Settings
- Size 1-4: Sets the thickness/width of each zone.
- Lookback: Number of past candles used to calculate historical support/resistance.
Conclusion
The KG Support & Resistance Indicator is an essential MT4 tool for plotting dynamic key zones across multiple timeframes. Traders can easily customize colors, shapes, and sizes to enhance their visual strategy and chart analysis.
By integrating this indicator into your trading approach, you can anticipate price reactions, identify entry/exit zones, and adapt to changing market conditions in Forex, crypto, stocks, and commodities.
