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Price Action with Support and Resistance Lines


The panel recognizes certain price action signals around the support and resistance lines.

The following patterns are recognized:

  • Pin bar
  • Reversal on two bars (Two Bar Reversals)
  • Engulfing (Engulfing Bars)
  • Inside bars (Inside Bars)

  • Support_Resistance_Zone1-8. When a support and resistance zone is found on the chart, a horizontal or diagonal Z1 line is displayed. When the lines are touched by a price action signal (for example, a pin bar), a notification is issued. The panel supports up to 8 support/resistance lines (Z1-Z8) for receiving signals.
  • Pin_Doji. True to search for pin bars and Doges, false-disabled.
  • Body_to_Bar_Ratio. Percentage of the pin bar body to the entire bar. For example, 50 means that the EA detects pin bars with a body of 50% or less of the total bar.
  • Engulfing_Body. True to search for absorption (only candle bodies are taken into account), false-disabled.
  • Engulfing_Body_and_Wick. True to search for absorption (both bodies and shadows are taken into account), false-disabled.
  • Two_Reversal_Bars. True to search for a reversal on two bars, false-disabled.
  • Two_Bar_Body_Ratio. The ratio of the body of both candlesticks (bullish and bearish) to the entire combined bar (from maximum to minimum).
  • Inside_Bars. True to search for internal bars, false-disabled.
  • Pip_Height. The minimum height of a PIP for all signals. For example, 20 means that only pin bars higher than 20 pips will be detected.
  • Flexipips. Applies only to absorbing and internal bars. The value (in pips) allows the panel to deviate from the rules for determining absorbing and internal bars. The absorbing bar is not always perfect, in particular the outer bar may not completely absorb the inner one, leaving, for example, 2 pips. If the value is 2, the panel takes into account this imperfect signal. At 0, strict rules apply.
  • Moving_Average (2). Allow to detect the signals of other moving averages. True to search for signals on the moving average, false-disabled.
  • Moving average parameters. Standard parameters of the moving average.
  • Only_Between_Moving_Averages. True to search for signals between two moving averages, false-disabled.
  • Action_Area. Detect signals when touching support/resistance lines, as well as in areas around them (Z1-Z8 and moving averages). For example, 20 means that signals will be detected up to 20 pips above and below the support/resistance lines.
  • Timeframes. If true, the timeframes on which the EA detects the signal are specified, if false, the timeframes that are ignored.
  • Pop_Up-Alert. True – enable the MT4 pop – up dialog box, false-disable it.
  • Email_Alert. True – enable email alerts, false – disable them.
  • Push_Notification. True – enable push notifications, false-disable.
  • Sound_Alert. Enable / disable the MT4 alert system for notifications.
  • Broker5Digits, Magic. (5-digit quotes, magic number) – set in advance.
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