How to Add MT5 Support and Resistance Indicator in MetaTrader 5 Charts

Step 1: Open MetaTrader 5 Platform Navigator Panel

Open MetaTrader 5 Navigator window as explained on the MT5 example below: Go to "View" menu (click), then choose the "Navigator" window (click), or From Standard Tool Bar click the "Navigator" button or press keyboard MT5 shortcut keys "Ctrl+N"

On MT5 Navigator window, select "Indicators", by Double Clicking

How Do You Use MT5 Support and Resistance Technical Indicator in MT5?

How to Add Support and Resistance MT5 Indicator

Expand the menu by clicking the expand button (+) or double click the "indicators" menu, after this the button will be displayed as (-) and will now display MT5 indicators list as explained on the MT5 example below - select the Support and Resistance technical indicator from this list of MT5 indicators so that you can add the Support and Resistance MT5 technical indicator on the MT5 forex chart.

How Do You Use MT5 Support and Resistance Technical Indicator in MT5?

How to Place Forex Custom Support and Resistance Indicator on MT5

If the MT5 indicator that you want to add on the MT5 charts is a custom MT5 technical indicator - for example if the Support and Resistance technical indicator that you want to add is a custom MT5 technical indicator you will need to first add this custom Support and Resistance MT5 technical indicator on the MT5 platform & then compile custom Support and Resistance technical indicator so that the newly added Support and Resistance MT5 custom indicator pops up on the list of custom technical indicators on the MT5 platform.

To learn how to add Support and Resistance indicators on MT5 platform - how do you add Support and Resistance indicator window to MT5 platform? - how do you add Support and Resistance forex custom indicator on MT5 platform? - How to add custom Support and Resistance custom forex indicator on MT5.

How Do You Use Support and Resistance MT5 Indicator?

Support and Resistance Indicator Technical Analysis Buy & Sell Signals

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

There is also a forex indicator used to draw these levels automatically on the forex charts and indicate the resistance and support levels on the forex chart.

How to Add MetaTrader 5 Support and Resistance Indicator in MetaTrader 5 Charts

When it comes to these Support & Resistance levels - the forex price can either bounce off these Support and Resistance levels or break through these Support and Resistance Forex levels.

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

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

Support levels indicate forex price level where the majority of forex traders believe that prices will move higher.

Resistance levels indicate the forex price level at which a majority of forex trader believe that the forex trading prices will move lower.

Once forex price has broken through a support level 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 forex price or is touched by the forex price and bounces - the more major that particular support level or resistance level becomes.

How to Generate Buy and Sell Signals

These support levels & resistance levels are calculated in a trend lines method.

Upward Forex Trading Trend

In an upwards forex trend the resistance and support levels will generally head upwards in an upwards forex trend direction.

Resistance and Support Technical Indicator Forex Upwards Trend

Downwards Forex Trend

In a downwards forex trend the resistance and support levels will generally head downwards in a downwards trend direction.

Support Resistance Technical Indicator Forex Upwards Trend

How Do You Use MT5 Support and Resistance Technical Indicator in MT5?