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Shved Supply and Demand Zones from Fractals and ATR

Article MQL5 code base
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Summary

This indicator identifies and draws support and resistance zones using fractals and the Average True Range (ATR). It classifies zones as weak, untested, verified, proven, or broken, based on their relationship to price turns and prior tests. The description presents these categories as a way to distinguish zones by their history and apparent strength; it does not provide a trading rule for entries, exits, or position sizing.

Features include a history mode for inspecting zones at earlier chart points, alerts when price enters a zone, and an option to display zones from another timeframe. The data window can show zone strength and type when price is inside a zone. The document records implementation updates and compatibility fixes, but gives no performance testing or evidence that the zones predict future price behavior. Traders should treat the classifications as indicator output rather than validated signals.

Key ideas

  • The indicator uses fractals and ATR to locate support and resistance zones.
  • Zones are classified according to their status and prior interactions with price.
  • History mode lets users inspect the zones present at an earlier chart point.
  • The indicator supports alerts and displaying zones from a selected timeframe.
  • Zone labels describe past price behavior, not proven future performance.

Tags

Technical indicatorsRisk management

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.