Description

Where:

So in this expression we first check if the current High is less than or equal to the Previous High using the rule:

H[0]<=H[1]

And then we check if the Previous High is greater than or equal to the Previous High, with the expression:

H[1]=>H[2]

The “And” joins the two expressions, and if true it means we have a new resistance:

and

However, we still have to pick the correct candle to make the mark, and the correct candle is not the current candle, but the previous candle, that is candle [1]

Then we use this second parameter to get the correct candle

Get Candle = 1

And now we have the correct point of resistance

Now let’s move on to creating Supports

To create funds we have the following standard rule:

L[0]=>L[1] and L[1]<=L[2]

Where the Symbols are similar to the tops rule, just change the L to Low

In this rule to create the background we first check if the Current Low is greater than or equal to the previous Low with the expression.

L[0]=>L[1]

And then we check if the Previous Low is greater than or equal to the Before Low using the expression.

L[1]<=L[2]

And join the two bottom rules with the “and” operator.

and

With that we have a new bottom signal, but we still need to get the correct candle that is the previous candle that is the candle [1] we get the correct candle with the parameter:

Get Candle = 1

And that’s it now we have a new bottom correctly configured

Create rules for tops and bottoms

To create your bottoms and tops rules you must create a logical or mathematical formula that returns a true or false value

If the result of your Mathematical expression is true it means you have a new top or a new bottom

Your expression can also return any non-zero number to indicate that there is a new support or a new residency, because in programming a non-zero number means true too

Rule to create the Rule

Your rule should always follow the following logic:

value + operator + value + operator + value + operator + value + operator ...

See that always after a value comes an operator, and so on, but there is still an exception, the only operators you can use after another operator is the minus sign, to indicate that the next value is negative, and the logical operator not which is a little more complex but serves to expect a false result of a value that is in front of it, below we will see the lists of all available operators.

Mathematical Operators for creating tops and bottoms

Relational Operators for creating resistances and supports

Logical Operators for creating supports and resistances

And now let’s go to the values you can use in your tops and bottoms rules

Price values for creating bottoms and tops

Indices to select which candle you want to use in calculating tops and bottoms

You can select the candlestick by its displacement, 0 means the current candlestick, 1 means the previous candlestick and so on…

Numerical values for creating top and bottom

You can use integer or real values, however you should not use a comma but a point to define the fruiting point of the real number.

Values resulting from another expression to create bottom and top

You can use parentheses to isolate an expression and create a value with it.

Example:

(value + operator + value) operator (operator + value + operator) operator ...

Maximum size of tops and bottoms rule

Due to a limitation of the metatrade, the maximum length of the rule is 254 characters, but this still makes a very long rule, see an example of a rule within the limit of the metatrade with 251 characters.

O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1] and O[1] = C[1]

See that this rule checks if the previous candle is a doji several times, there is no need for that, this example is just for you to see the size of the rule you can create for tops and another rule like that for bottoms.

But anyway, if your rule doesn’t fit you can remove the whitespace and use the shorthand forms of the logical operators:

Logical Operators in abbreviated form

With this you can create very large tops and bottoms rules using that space available for them.

This indicator is an MTF

This means Multi Time Frame, which means that in addition to the tops and bottoms of the current chart you are using, it can also show the tops and bottoms of larger timeframes and thus plot on your current chart, this brings much more security when trading. , because you are seeing where the major chart timeline resistances and supports are passing before you enter your trades.

Advantages of the Paid Indicator

As this is a paid version, you can use all support and resistance from other timeframes on your current chart, this has advantages as you can select the support or resistance color from a weekly, monthly, or whatever chart you choose. , so you know the strength of the support and resistance point by the color you see plotted on your screen, but if you don’t want to buy now, you can test the free version here:Download free support and resistance indicator for metatrade 5 or you can download the paid version from this link: download multi time frame support and resistance indicator for metatrade 5

The difference between them is that in the free one, in addition to the option to plot tops and bottoms of the current chart as in the paid one, it will only have the MTF option to plot the tops and bottoms of the Daily chart, while in this paid version you have the MTF option of all the timeframes that are available for the metatrade, so this is a more complete version for professionals who need more confidence to know if the point where they are entering or exiting a trade is a point where there is a relevant resistance or support where the market usually makes a reversal and ends up stopping the trade without him knowing that there was a top or bottom of a different timeframe than the one he was using.

With this indicator you can monitor the tops and bottoms of all timeframes at the same time, and this will give you more clarity and certainty of where you can or cannot trade, as you know which points the market can run more and which points and which points there may be a reversal or a congestion between a support and a resistance.

Appearing to be an indicator, this indicator is price action, that is, it is not lagging behind the price as technical analysis indicators normally are.

This indicator analyzes the price movement and instantly gives you the points where you can operate with the statistics in your favor that are at the support and resistance points, using the price action in your favor in a fully automatic way.

Tops and Bottoms Alerts

You can also configure alerts with a custom message when your tops and bottoms rule occurs. The available alerts are:

1. Sound Alerts
2. Message alerts in metatrade itself
3. Notification messages alert on your Mobile
4. Message alert for your email

Upcoming Updates of Bottoms and Tops

In the next updates, I intend to bring a zig zag that connects the tops and bottoms of supports and resistances, to show the market movement of different fractals since it is an indicator in MTF we will be able to make a very good zigzag display in MTF, however, to make the market movement, the top and bottom cannot be on the same candle, if they are, the zigzag MTF itself will select which one will be considered for the market movement and will ignore the other.

But since you are in control of deciding what is a top and what is a bottom, you can create a rule to ignore the top that is not relevant to market movement.

Create your rules and Post here

Post your rules here in the comments, in case they are not working I or other members of the community can test it and to help other users who are having the same problem or who don’t have a good strategy for creating tops and bottoms, if your strategy has an interpretation problem within the indicator, with your post I can detect the error and correct it so that the indicator can understand and translate it into logical and mathematical language.