Supporta: Indicator For Support/Resistence Levels
Supporta is a trading indicator for MetaTrader 4 and MetaTrader 5 that automatically identifies support and resistance levels on any financial instrument and timeframe. Using a mathematically defined scanning algorithm, it removes the subjectivity and human bias from level plotting, giving traders a consistent, rules-based tool to integrate into their strategies.
Support and resistance levels represent price zones where movement tends to pause or reverse. A support level holds the price from falling further, while a resistance level caps upward movement. These zones often emerge through repeated touches and reversals, reflecting the collective psychology of market participants. Once broken, a support can become resistance, and vice versa, signalling a shift in market conditions.
Because price often reacts sharply when approaching these levels—either by bouncing or breaking through—they are widely used for trade entries with controlled risk. The direction of movement from a given level still requires additional analysis, such as price action or trend evaluation, but Supporta provides the critical foundation by defining the levels objectively.
Key Features
Automatic Level Detection
Supporta scans historical price data and marks both support and resistance levels directly on the chart.Level Strength Indication
The brightness of each line reflects its strength, allowing quick visual assessment.Multi-Market, Multi-Timeframe
Works on any asset class available in MetaTrader—currencies, commodities, indices, stocks—across all timeframes.
Core Parameters
Number of Historical Bars
Defines how much past data to scan. For example, 400 bars on a D1 chart equals 400 trading days.Number of Horizontal Stripes
Sets the resolution of the scan by dividing the price range into horizontal slices. More stripes mean narrower slices and more granular scanning.Smoothing Parameter
Adjusts how tightly or loosely the algorithm groups extrema into levels.Level Detection Method
Switch between High/Low and Close price detection. The latter can be useful on timeframes where closing prices carry psychological weight, such as W1.Color Settings
Select line colors, with brightness used to indicate strength.
Benefits for Traders
Eliminates the manual effort of identifying and redrawing levels.
Provides a consistent methodology across all charts and assets.
Offers flexible settings to adapt to different instruments and trading styles.
Helps traders focus on market interpretation rather than chart preparation.
The MetaTrader 4 and 5 versions are available on the market, complete with a downloadable guidebook for quick setup and in-depth parameter explanations.
Supporta’s role is not to predict direction, but to support decision-making—offering traders a reliable, objective map of the price zones where market psychology is most likely to play out.
