The Support Resistance MTF Indicator
With this indicator you will be able to detect high probability reversals setups.
The Support/Resistance MTF indicator is one of the key elements to detect my favorite setup type: Golden Setups
The indicator detects so called “untouched” support and resistance price levels which nearly always produce a sharp reversal once the untouched price level is reached.
Additional benefits with the indicator are:
- detects support/resistance from higher time frames
- you can configure how the support/resistance is detected
The following screenshot shows how the untouched support/resistance price levels are drawn (and how the price usually reacts at these levels):
With this indicator you will have an additional information advantage:
While you are searching on lower time frames like M30/H1 for entry opportunities you will see the major support / resistance price levels e.g. from the weekly time frame.