Support and Resistance MTF (Multi-Time Frame) Indicator is a technical analysis tool that helps traders identify key levels of support and resistance on multiple time frames. These levels can act as potential entry and exit points for trades, as well as areas to set stop losses.
What is the Support and Resistance MTF Indicator?
The strategy behind the Support and Resistance MTF Indicator is to use multiple time frames to identify key levels of support and resistance. By looking at different time frames, traders can get a more comprehensive view of the market and better understand the overall trend.
- It helps traders identify key levels of support and resistance on multiple time frames.
- It can be used to set stop losses and potential entry and exit points for trades.
- It can be helpful in determining the overall trend of the market.
- It can be used in conjunction with other technical analysis tools for a more comprehensive view of the market.
- It can be used on any financial instrument, including forex, stocks, and commodities.
- It is customizable, allowing traders to adjust the settings to fit their specific trading strategy.
- It is easy to use, even for traders with little technical analysis experience.
This indicator is used to identify potential support and resistance levels on a chart. It does this by drawing horizontal lines on the chart at price levels where the price has had difficulty breaking through in the past. These levels can then be used by traders as potential areas where the price may bounce or reverse. For example, if the price is approaching a previously established resistance level, a trader may consider selling or taking profits, as the price may be less likely to continue rising past that level.
Support and Resistance MTF Strategy
Buy Signal
- When the price of a financial instrument is approaching a key level of support on a higher time frame.
- When the price is bouncing off a key level of support on a lower time frame.
- When the overall trend is bullish and the price is approaching a key level of support.
- When the price breaks through a key level of support or resistance on a higher time frame.
- When there are bullish reversal candlestick patterns forming at key levels of support .
- When the indicator shows overbought or oversold conditions at key levels of resistance or support.

Sell Signal
- When the price of a financial instrument is approaching a key level of resistance on a higher time frame.
- When the price is bouncing off a key level of resistance on a lower time frame.
- When the overall trend is bearish and the price is approaching a key level of resistance.
- When the price breaks through a key level of support or resistance on a higher time frame.
- When there are bearish reversal candlestick patterns forming at key levels of resistance.
- When the indicator shows overbought or oversold conditions at key levels of resistance or support.

Support and Resistance MTF Indicator Pros & Cons
Pros
- It helps traders identify key levels of support and resistance on multiple time frames.
- It can be used to set stop losses and potential entry and exit points for trades.
- It is customizable, allowing traders to adjust the settings to fit their specific trading strategy.
- It is easy to use, even for traders with little technical analysis experience.
- It can be used on any financial instrument, including forex, stocks, and commodities.
- It can be used in conjunction with other technical analysis tools for a more comprehensive view of the market.
Cons
- It is a lagging indicator, meaning it can sometimes give signals after the market has already moved.
- It is only based on past price action, and does not take other factors that can impact the market, such as CPI, inflation and interest rates.
- It is subjective, and different traders may interpret the same levels of support and resistance differently.
- It can give unreasonable signals, particularly in range-bound market
- It requires traders to monitor multiple time frames, which can be time-consuming.
Conclusion
The Support and Resistance MTF Indicator can be a useful tool for traders looking to identify key levels of support and resistance on multiple time frames. It can help traders set stop losses and potential entry and exit points for trades, as well as determine the overall trend of the market.


Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.