There are many indicators showing support / resistance level. This is one of them. It allows for using multiple timeframes and has many options to set. It also uses advanced filtering to provide most important levels.

The idea is to count bars prices of certain types which have the same level within defined tolerance. If there is enough bars at the same level we consider this level as important support / resistance.

Parameters:

• TimeFrame - bars prices will come from this timeframe. It can be one of 1=M1, 5=M5, 15=M15, 30=M30, 60=H1, 240=H4, 1440=D1, 10080=W1, 43200=MN1
• TolerancePips - this is tolerance in pips beetwen line and bar price we check. If price is within tolerance we have hit.
• Hits - minimum of hits to acept level.
• StartBar - how many bars will be checked for level.
• LookBack - how many bars we check back for each start bar.
• AppliedPrice - first applied price we try to match. Can be one of 0-CLOSE | 1-OPEN | 2-HIGH | 3-LOW | 4-MEDIAN | 5-TYPICAL | 6-WEIGHTED.
• AppliedPriceExtra - second applied price we try to match. Can be one of 0-CLOSE | 1-OPEN | 2-HIGH | 3-LOW | 4-MEDIAN | 5-TYPICAL | 6-WEIGHTED.
• UseFiltering - if this is true advanced filtering is executed on levels in order to find most important lines.
• FilterStrength - how strong the filtering will be.
• LineColor - color of lines.
• LineWidth - lines width.
• Force4DigitBrokers - when set to true on 5 Digit brokers will take 1 pip as 10 broker pips.
  
   

Example

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Attachments:

File	Description	File size	Last Modified
HardLevels.mq4	HardLevels ver.3 indicator code in MQL4. Upload it to your MetaTrader directory /experts/indicators/	9 Kb	02/06/09 14:59