Support and Resistance Indicator, Support and resistance levels

This is an MT4 (MetaTrader 4) indicator designed to identify Support and Resistance (S&R) levels and send alerts when these levels are breached.

Features

• Uses two buffers to store Support and Resistance levels.
• Configures color, width, and type of lines (displayed as arrows).
• Supports alerts via:
  • Native in-platform notifications
  • Email
  • Push notifications
• Allows users to check breaches based on the current or previous candle.

Functions

1. OnInit

Initializes the indicator:

• Sets up buffers for Support and Resistance levels.
• Configures how data is displayed on the chart using arrows.

2. OnCalculate

Handles the main calculation logic:

• Uses the built-in Fractals indicator to calculate Resistance (upper fractals) and Support (lower fractals).
• If no new level is detected, the previous level is retained for continuity.
• Checks for breaches:
  • If the price closes above a Resistance level, an alert is sent for a "Resistance Breakout".
  • If the price closes below a Support level, an alert is sent for a "Support Breakout".
• Users can customize alert conditions and timing.

Alerts

Alert messages include the following details:

• Symbol
• Timeframe
• Broken level (Support or Resistance)
• Corresponding price

Alerts are sent using MetaTrader's built-in functions, based on user preferences.

Purpose

This indicator is ideal for traders who need an automated way to identify Support and Resistance breaches and receive timely notifications for potential trading opportunities.