How to Add Support and Resistance Trading Indicator on MetaTrader 4 Charts

Step 1: Open Navigator Window on Trading Platform

Open Navigator window as shown and illustrated below: Go to 'View' menu (press on it), then choose 'Navigator' panel (press), or From Standard Tool-Bar click 'Navigator' button or press key-board shortcut keys 'Ctrl+N'

On Navigator window, select 'Indicators', (DoublePress)

How Do You Add Support and Resistance Technical Indicator on MetaTrader 4 - MT4 Support and Resistance Trading Indicator

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

Expand the menu by pressing the expand(+) button marker (+) or doubleclick the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the Support and Resistance chart indicator from this list of indicators so that to add the Support and Resistance technical indicator to the chart.

How Do I Add Support and Resistance Trading Indicator - From the Above window you can then place Support and Resistance technical indicator that you want on the chart

How to Add Custom Support and Resistance Trading Indicator to MT4 Software

If the indicator you as a trader want to add is a custom indicator - for example if the Support and Resistance trading indicator you as a trader want to add is a custom indicator you will need to first add this custom Support and Resistance trading indicator on the MT4 platform & then compile custom Support and Resistance technical indicator so that the newly added Support and Resistance custom indicator pops up on the list of custom indicators on MT4 software.

To learn how to install Support and Resistance indicators on MT4, how to add Support and Resistance trading indicator panel to MT4 and how to add Support and Resistance custom indicator in MT4 - How to add a custom Support and Resistance trading indicator in MetaTrader 4.

About Support and Resistance Technical Indicator Explained

Support and Resistance Technical Analysis and Support and Resistance Signals

Support & Resistance is one of vastly used concepts in Forex. Most traders plot horizontal lines to show these levels.

There is also an indicator used to plot these levels automatically and indicate the resistance and support levels.

When it comes to these levels price can either bounce off these levels or break these levels.

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

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

Price where the majority of investors believe that the prices will move higher, while resistance levels indicate the price at which a majority of investors feel prices will move lower.

Once price has broken through a support or a resistance then it is likely that the price will continue heading in that particular direction until it gets to the next support or resistance level.

The more often a support or resistance level is tested or is touched by price & bounces, the more major that particular level becomes.

Technical Analysis & How to Generate Signals

These levels are calculated a trend lines method.

Upward Trend

In an upward trend the resistance & support will generally head upwards

Upward Trend

Downwards Trend

In a downward trend the resistance & support will generally head downward

Downwards Trend

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