I made an attempt to calculate support and resistance based on open and closing prices for bars rather than as I have seen some indicators use highest high and lowest low. Ok so it's a work in progress. I am open to development ideas how this can be used.

I'm not finished with it yet. I have still to combine the matches of the opens and closes and identify the resistance and support levels. Then maybe it will have some useful deployment as part of strategy development.

Attached Files

Support and Resistance.mq4 (4.6 KB, 101 views)