Frac Support Resistance V1 is a technical indicator designed to automatically calculate and display smart support and resistance lines derived from multiple timeframes: daily (D1), 4-hour (H4), hourly (H1), and 15-minute (M15). It assists traders who rely on market structure by visually highlighting critical price levels established on higher timeframes, reducing the need for manual identification.
Key features include customizable visual hierarchy, allowing independent adjustment of line thickness, style (solid, dashed, dotted), and color for each timeframe. This enables quick recognition of the relative strength of support and resistance levels. Users can also control chart clarity by setting maximum numbers of lines per timeframe to prioritize recent or major structural levels.
The indicator is based on fractal logic to identify genuine high and low pivots consistent with standard market structure analysis. It includes a dedicated backtesting mode that restricts analysis to a specified historical period, facilitating unbiased manual strategy testing by simulating real-time progression.
Frac Support Resistance V1 supports various markets including Forex, cryptocurrencies, commodities, indices, and stocks, with tags indicating compatibility with symbols like BTCUSD, EURUSD, GBPUSD, XAUUSD, NAS100, and USDJPY. The tool is suited for strategies involving breakout, scalping, smart money concepts, and grid trading.