Support and resistance shift as new swings form. The VIP dynamic support resistance indicator keeps the latest swing high and low as stepped lines, boxes the four most recent zones on each side with a band of 0.6 average ranges, and marks both bounces off support and closes through resistance.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 4: VIP Resistance, VIP Support, VIP Buy, VIP Sell |
| Alerts | popup, push notification, email, sound |
| Inputs | 13 |
Plots this indicator declares
Stepped lines, zone boxes and two marks.
`VIP Resistance` steps in orange red at width 2.
`VIP Support` steps in lime at width 2.
Zone boxes frame the recent levels.
`VIP Buy` prints aqua with arrow 233.
`VIP Sell` prints magenta with arrow 234.
- VIP Resistance: line, orange red, width 2
- VIP Support: line, lime, width 2
- VIP Buy: arrow, aqua, width 2, arrow code 233
- VIP Sell: arrow, magenta, width 2, arrow code 234
How the source computes it
Swings
`Depth` `12` bars on each side confirm a swing. The newest high and low become the live lines.
Zones
`ZoneWidthATR` `0.6` of an `AtrPeriod` `14` range sets each box’s half-height. `MaxLevels` `4` recent zones per side stay drawn within `Lookback` `200` bars.
Signals
A bullish bar that dips into the support band and closes above support prints a buy. So does a close up through resistance. Sells mirror both.
What you are looking at
Lime steps show the live support.
Orange red steps show the live resistance.
Boxes show where recent swings clustered.
Aqua marks cover bounces and breakouts alike.
`SignalCooldown` `5` spaces same-side marks.
Swings confirm twelve bars late.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
Bounces and breakouts report once per closed bar under `EnableAlerts`; popups are the only route active when the file loads.
Every VIP Dynamic Support Resistance Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
Depth |
Swing depth (bars each side of a pivot). Bars on each side of a swing, `12`. | 12 |
Lookback |
Bars to scan for drawn S/R zones. Bars scanned for zones, `200`. | 200 |
MaxLevels |
How many recent zones to draw per side. Zones kept per side, `4`. | 4 |
AtrPeriod |
ATR period (zone width + signal band). Range window, `14`. | 14 |
SignalCooldown |
Min bars between same-side signals. Bars between same-side marks, `5`. | 5 |
Display settings
| Setting | What it does | Default |
|---|---|---|
ZoneWidthATR |
Zone half-height as ATR multiple. Zone half-height in ranges, `0.6`. | 0.6 |
ArrowOffsetATR |
Arrow offset from candle as ATR multiple. Mark gap in ranges, `0.8`. | 0.8 |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Master alert switch, `true`. | on |
EnablePopup |
Popup, `true`. | on |
EnablePushNotify |
(see inputs panel) | off |
EnableEmail |
(see inputs panel) | off |
EnableSound |
Speaker, `false`. | off |
SoundFile |
(see inputs panel) | alert.wav |
Matching it to your chart
Twelve-bar swings give levels that last days on the hourly EURUSD screenshot. On M15 they cover a session or two. On D1 they match the big weekly levels.
Where the method fails
One mark type covers two different setups.
Twelve-bar swings confirm late.
Zones can overlap in tight ranges.
Only the popup is on by default.
Copy the compiled VIP Dynamic Support Resistance Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Related on forexmt4systems.com: Support and Resistance Strategy.
Download the VIP Dynamic Support Resistance Indicator for MT4 and MT5
The zip holds the compiled VIP Dynamic Support Resistance Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
Download this indicator free
Enter your email and the file is yours. You also get the full MT4 and MT5 library.
FAQ
Which two setups can trigger a VIP Buy?
A bullish bar that dips into the support band and closes above support, or a close up through the live resistance line. Both use the same aqua mark.
How wide is a ZoneWidthATR 0.6 box?
Six tenths of the 14-bar average range above and below the level, so the full box is about 1.2 ranges tall. It widens in fast markets.
What does MaxLevels 4 keep on the chart?
The four most recent zones on each side, found within the last two hundred bars. Older zones are removed so the chart shows current structure.
How late do VIP Support steps arrive with Depth 12?
A swing needs twelve bars on each side before it counts. The live lines only move once a new swing confirms, twelve bars after the turn.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the VIP Dynamic Support Resistance Indicator as one input. Always backtest before trading live.
Category: this is part of our Support and Resistance collection. Browse more Support and Resistance for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- The core method is documented in Linked exchange rate system in Hong Kong on Wikipedia.
- Additional market context is at Percent Above Moving Average at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.