Malaysia SNR Levels and Storyline puts support and resistance on MT4 and MT5 at candle closes. Not swing highs, not wicks, not pivots. The close of the candle that turned.
That one decision is the whole method, and it produces a chart that looks nothing like a pivot-based one.
Three kinds of level, from two candles each
Classical. A down candle followed by an up candle puts support at the down candle's close. An up candle followed by a down candle puts resistance at the up candle's close. That's it: the price where selling stopped and buying started, taken at the body rather than the wick.
GAP. Two candles the same colour in a row. The first one's close becomes the level, support after two up candles, resistance after two down ones. This marks continuation rather than reversal: the price the market passed through without pausing, which is the one it often comes back to.
Flipped. When price closes above a classical resistance, that exact level is redrawn as support. Below a classical support, it becomes resistance. The level doesn't disappear when it breaks; it changes sides.
Only Classical is on by default. GAP and Flipped are off, and turning all three on at once on a busy chart gives you more lines than you can read. Add them one at a time.
Levels die when they're broken
Every line extends to the right for as long as it's valid. A support level is dropped the moment price closes below it, and a resistance level the moment price closes above.
Mitigated type lets you switch that from close to wick, which is stricter and clears the chart faster. Delete drawn after mitigated is on by default, so a broken level is removed rather than left greyed out.
That's the reason this chart stays readable when a pivot-based one doesn't. The rule generates a lot of levels — potentially one every two candles — and the deletion rule takes the same number back out. What's left on your screen is only what hasn't been traded through yet.
If you'd rather keep the history, turn Delete drawn after mitigated off and the broken lines stay put, ending at the bar that broke them.
| Pivot-based S/R | This | |
|---|---|---|
| Where the level sits | A swing high or low, at the wick | The close of the turning candle |
| Bars needed | A pivot, so several either side | Two |
| Confirmation delay | Waits for bars to the right | None; confirmed on the second candle's close |
| Broken levels | Usually stay drawn | Deleted, or kept, your choice |
| Level types | One | Classical, GAP and Flipped, separately switchable |
No lag, and what that costs
Because a level only needs two consecutive candles, it appears on the close of the second one. There's no pivot to confirm, nothing to wait for, no bars to the right.
The cost is the obvious one: it generates a lot of levels. Every two-candle colour change is a candidate. On M5 you will get dozens per session, and the deletion rule is the only thing keeping the chart usable. On H1 and above the count is comfortable, and that's where I'd run it.
There's also a de-duplication rule: a new level at exactly the same price as the newest stored one isn't added twice.
What it draws, and what it doesn't
Horizontal lines with an optional price label. Show text is off by default, and the labels are worth turning on once while you're learning which level type is which — the prefix is C:, G: or F:.
No alerts at all. This version has no notification system, so it can't tell you when price reaches a level. No indicator buffers, so iCustom gets nothing either. It draws lines. If you need alerts on higher-timeframe levels, that's the multi-timeframe version, which is a separate product.
No zones, only lines. A close is a single price, and that's what gets drawn.
Where it's weak
No alerts. Worth saying twice, because it's the first thing people ask. This build draws and nothing else.
200-bar default lookback. Short, deliberately, because the level count grows fast. Raise Lookback bar to 0 for the whole history and expect a busy chart.
Levels aren't ranked. A level from a decisive engulfing candle and one from two doji are drawn identically. There's no strength measure and no volume filter.
Only the classical level feeds the flipped logic. GAP levels never become flipped levels, even when price closes through them.
Wicks are ignored entirely. That's the method, and it means a level can sit in the middle of a long wick with price having traded well past it. If your stops go behind wicks, you'll be placing them yourself.
Questions you'll have
Does Malaysia SNR Levels and Storyline repaint? No. A level is fixed at the close of the second candle and never moves. Lines extend to the right while valid, and disappear when broken.
Why are there so many levels? Because any two consecutive candles can make one. Keep Delete drawn after mitigated on, use H1 or higher, and start with Classical only.
What do C, G and F mean in the labels? Classical, GAP and Flipped. Turn on Show text to see them.
Why did a level disappear? Price closed through it, or wicked through it if you set Mitigated type to wick. Turn off Delete drawn after mitigated to keep broken levels on the chart.
Does it have alerts? No. This version draws only. The multi-timeframe version is sold separately and does more.
Why is the level not at the wick? Because the method puts it at the close. The close is where the market settled; the wick is where it was rejected. Different information, and this tool has chosen one.
Best timeframe? H1 and above. On M5 and M15 the level count is high enough that the chart is hard to read even with deletion on.
MT4? Both platforms are included, one download each. Same three level types, same deletion rule.
Support
Message me through the site with a screenshot, the symbol and the timeframe, and I can tell you which rule produced a level. Updates are included for as long as your subscription runs.
Analysis tool. It places no trades and makes no profitability claim. Past price behaviour is not a guide to future price behaviour.