Best Support Resistance Levels Setting for H1 Chart, H4 Chart and for Day Trading

How to Add Support and Resistance Indicator on MetaTrader 4

Step 1: Open MT4 Software Navigator Window Panel

Open MetaTrader 4 Navigator window as shown below: Go to "View" menu (click), then select "Navigator" window (click), or From Standard Tool Bar click on "Navigator" button or use keyboard short cut keys "Ctrl +N"

On MetaTrader 4 Navigator panel, select "Technical Indicators", (DoubleClick)

Best Support and Resistance Setting for H1, H4 and Day Trading Charts

Step 2: Expand the Forex Indicators Menu on the Navigator - Adding Support and Resistance MT4 Chart Indicator

Expand the menu by clicking the expand button marker (+) or double click the "indicators" menu, after this the button will appear as (-) and will now display a list as shown below - select the Support and Resistance indicator from this list of forex MT4 indicators so as to add the Support and Resistance indicator on the forex chart.

Best Support and Resistance Setting for H1, H4 and Day Trading Charts

How to Install MT4 Support and Resistance Indicator on MT4

If the forex Support and Resistance technical indicator you want to add is a custom indicator - for example if the Support and Resistance technical indicator you want to add is a custom indicator you will need to first add this custom Support and Resistance indicator on the MetaTrader 4 platform & then compile custom Support and Resistance indicator so that the newly added Support and Resistance custom forex indicator pops up on the list of custom indicators on the MetaTrader 4 software.

To learn how to install Support and Resistance indicator on MetaTrader 4, how to add Support and Resistance indicator window to MetaTrader 4 platform and how to add Support and Resistance custom MT4 indicator on MetaTrader 4 - How to add custom Support and Resistance indicator on MetaTrader 4.

About Support and Resistance Indicator Tutorial Explained

Support and Resistance Technical Analysis & Support and Resistance Signals

Support & Resistance is one of the widely used forex technical analysis concepts in forex trading. Most traders draw horizontal lines to show these levels.

There is also a forex indicator used to draw these Support & Resistance levels automatically & show the resistance & support levels on forex charts.

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Best Support Resistance Setting for H1, H4 and Day Trading Charts

When it comes to these Support & Resistance levels FX price can either bounce off these regions or break out through these regions.

If a resistance level is broken - FX price will move higher & resistance zone will turn to a support zone.

If a support level is broken - FX price will move keep lower and this support zone will turn to a resistance zone.

Once forex price has broken through a support or a resistance level then it is likely that the FX price will continue to move in that specific direction until when it gets to the next support zone or resistance zone.

The more often a support zone or resistance level is tested by price and bounces, the more major that particular Support or Resistance level becomes.

Support and Resistance Technical Analysis & How to Generate Signals

Support & Resistance zones are calculated using trend-lines technique.

Upward Forex Trading Trend

In an upwards forex price trend the resistance & support areas will generally move upward

Best Support and Resistance Settings for Swing Trading - Best Support and Resistance Levels Settings for Scalping Trading

Downwards Forex Trend

In a downward forex price trend the resistance & support areas will generally move downward

Best Support and Resistance Settings for Swing Trading - Best Support and Resistance Settings for Scalping Trading