Edgevia Mtf Support Resistance Alert (MT5) — review, price and free alternatives

In live and demo testing the indicator consistently maps H1, H4 and D1 S/R zones and reduces noise by merging proximate zones, which improves clarity when price approaches key areas. Edgevia Mtf Support Resistance Alert is unique because it combines multi-timeframe zone detection with an RSI filter and candlestick pattern confirmation, so alerts are only issued when multiple conditions align. The algorithm first identifies structural S/R levels on higher timeframes, projects smart zones onto lower charts, and applies non-repainting logic so past signals remain verifiable. Trade entries are gated by RSI thresholds and candlestick confirmation patterns like pin bars and engulfing bars, which reduces false breakouts during ranging markets. The indicator performs best in trending and structured range conditions where S/R levels are respected; it is less effective during extreme news-driven volatility and illiquid sessions. Risk management within the design encourages defined stop placements at zone boundaries and suggests position sizing tied to account risk percentage. The developer, Le Huy Tuong, supplies regular updates on the MT5 platform and documents parameter choices and non-repainting behavior to aid traders conducting their own backtests.

Edgevia Mtf Support Resistance Alert carries a moderate risk profile when used with recommended stop loss and position sizing. The indicator's stop loss strategy places risk outside merged zone edges or recent wicks, creating defined invalidation points for each trade. Position sizing is best handled via percentage risk per trade, typically between 0.5 and 2 percent depending on trader tolerance. Vulnerabilities include major economic news, sudden liquidity gaps, and low-volume instruments where S/R zones can be ignored. Traders should avoid running automated full-size bets on thinly traded pairs. For practical use, a recommended account size starts at $1,000 for conservative deployment and $5,000 or more for more active position scaling depending on leverage and pair selection. Le Huy Tuong recommends demo testing before live use.

Install Edgevia Mtf Support Resistance Alert into MT5 by copying the indicator files into the MQL5 Indicators folder and restarting the terminal. Attach the indicator to H1, H4 or D1 charts after loading and enable alerts in the input settings panel. Key parameters to configure include RSI period and thresholds, zone merge sensitivity, candlestick confirmation toggle, and alert types. Use brokers with ECN or low slippage execution for best results, and choose instruments with stable spreads. Optimal chart timeframes are H1 for active traders, H4 and D1 for swing traders. Backtest in the MT5 strategy tester and run a demo for at least 300 trades or three months before going live.