Great indicator, name?

I read this on another forum and I was wondering does anyone know the name of the indicator, or could someone write an indicator for MT4 please

"A similar tool I use is a Support indicator. I am not sure how it works but it looks back 100 periods and puts a dot at major price levels. I plot a horizontal line at each dot in all the timeframes and you get really good s/r. It marks all S/R that price has spent alot of time respecting etc…

If you start with this indicator at weekly, work your way down thru each timeframe, drawing horizontal lines at each dot, working down to 15min. When you zoom back out to daily you will notice clusters at certain levels. It seems price really likes to cluster at certain levels. You can then trade off these levels with pretty reliable signals."

Could this be written to read multiple time frames and display on one chart with one application, lets say read 15, 30, 60,240 and daily and show them on all time frames. Maybe too many lines for it to draw, so how about two applications with higher TF on one and lower TF on the other ?

Screen shot of chart

This sounds like it could be OK

Thanks all in advance.

Well, I see “ChannelSnipnetsTime” in the screenshot. Maybe that’s the name of the indicator.

Anyway, I guess the dots act as resistant line, since they sit on the highest high for the 100-day period.

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Plan A - demo trade for 6 months, if you still lose all your margin, go to Plan B …

Plan b - give up…

Hi there. Concerning indicators you can use in metatrader 4, there are many of them. It doesn’t depend of their hard or easy way to understand them what you have to evaluate to make a choice. Actually I think it depends of the trader’s skills. I mean some traders may prefer 2 or 3 particular indicators because they really understand them and others traders may use 2 or 3 different indicators cause they understood those. The platform that I’m actually using has over 30 indicators that I can use or try if I want… almost impossible to can’t find one which fits with your sk

I imagine that for some traders the number indicators may be a reason to get or not a platform. If you get 30 in a platform, it means you can find really useful just some of them, maybe 2 or 3, maybe all 30. It depends how those fit your expectations and your skills. In these crisis times, you might take in mind as much as you can to take your decisions. Adrian, I would like to know which platform are you actually using and give us some tips, as which indicators to use! Thanks