Support Resistance zig zag based - indicator for MetaTrader 5

Key Features:

• Dynamic Flip Zones: Automatically converts broken Support into SBR and broken Resistance into RBS.

• Auto-Normalization: Adjusts zone width based on average volatility, preventing them from being too wide or too narrow.

• Anti-Flicker & Repaint Safety: Uses a confirmation delay to validate pivot points before drawing zones.

• Smart Alert System: Triggers notifications only when the price moves significantly away from a zone and returns for a retest, minimizing noise in ranging markets.

⚙️ How It Works The indicator applies several logical filters behind the scenes to ensure zone relevance:

1. Pivot Scanning (ZigZag Core): Identifies Swing Highs (potential Resistance) and Swing Lows (potential Support) using a ZigZag algorithm. A 'Confirm Bars' feature validates these extreme points to prevent repainting.

2. Zone Formation & Normalization: Draws proportional rectangular zones instead of thin lines. Zone width is calculated against historical average price movements—shrinking overly wide zones and expanding narrow ones to maintain consistency.

3. Breakout & Transition Logic (SBR/RBS): Monitors real-time candle closes. A close below a Support converts it into an SBR zone; a close above a Resistance turns it into an RBS zone. (Users can disable this if they prefer broken zones to be deleted).

4. Distance Filter: Uses a "Min Move Away" parameter. The price must travel a certain multiplier away from a newly formed zone before it activates. Alerts will only trigger on a retest after this condition is met.

5. Overlap Resolution: Cleans up clustered S/R areas using two modes: Most Extreme (Default) keeps the furthest zone where major liquidity/stop-losses usually reside, while Newest prioritizes the most recently formed zone.

6. Dashboard (Market Bias): Continuously calculates the bullish vs. bearish momentum ratio based on recent ZigZag legs, providing an instant summary of whether the market is trending or choppy.