SR - Indicator for MetaTrader 4

The indicator is used to determine the support and resistance levels on the chart. The calculation of the variables S (support) and R (resistance) is performed by the following formulas:

R = Open + AV + k_std * Std,

AV - the average minimum fluctuation relative to the opening price for a certain number of periods;

Std is the value of the standard deviation of this fluctuation;

K_st is the coefficient of the multiplier.

S = Open - AV - k_std * Std.

All minimum fluctuations for each day (or week) are used at calculation. At the same time, there is no division of differently directed bars.