ZigZag Support Resistance MT4

4.67

This indicator uses the Zigzag indicator to identify swing highs and swing lows in the price chart.  Once it has identified the swing highs and swing lows, it can use them to determine potential support and resistance levels. A support level is formed when the price drops and bounces back up from a swing low, indicating that there is buying pressure at that level. A resistance level is formed when the price rises and reverses downward from a swing high, suggesting selling pressure at that level.

Parameters:

ZigZag Settings: Depth, Deviation & Back Step

SR Level Settings:

Peak to Peak distance (Points): The distance in which the indicator searches for peaks that form a resistance/Support zone. The higher the distance the the few the levels. This parameter can be used to filter out inconsistencies (noise) in the Peaks. 

Sensitivity: How many peaks found in a similar zone could be considered as peaks.

History: How many Peaks from the present time to consider when searching for the SR levels

Line Colour: Colour of the SR Levels

Line Weight: Size of the SR Levels

This indicator can help with the following:

  1. Confirming trend reversals: The Zigzag indicator can be useful in confirming potential trend reversals. When the indicator changes direction, it suggests a shift in the price momentum. Traders can look for instances where the indicator changes from making higher swing highs to lower swing highs (or vice versa) to identify possible trend reversals.

  2. Highlighting chart patterns: The Zigzag indicator can help highlight various chart patterns, such as double tops, double bottoms, head and shoulders patterns, and more. These patterns often indicate potential trend reversals or continuation patterns. By combining the Zigzag indicator with pattern recognition, traders can gain additional insights into the market's direction.

  3. Setting dynamic stop-loss levels: Support and resistance levels identified by the Zigzag indicator can be used as dynamic stop-loss levels. When entering a trade, you can set your stop-loss order slightly below the support level for long positions or above the resistance level for short positions. This approach allows you to manage risk and protect your capital.


Reviews 3
Dhayatama
335
Dhayatama 2026.04.16 13:31 

Good indicator. Must try...

IK02XXyn
167
IK02XXyn 2024.11.15 13:11 

Buen indicador, Facil de usar y de entender, Gracias por compartir

Bling Bling
28
Bling Bling 2024.04.09 21:08 

Great indicator. Only thing missing is a touch alert feature.

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Paulo Rocha
5 (4)
Indicators
Gold Channel is a volatility-based indicator, developed with a specific timing algorithm for the XAUUSD pair, which consists of finding possible corrections in the market. This indicator shows two outer lines, an inner line (retracement line) and an arrow sign, where the theory of the channel is to help identify overbought and oversold conditions in the market. The market price will generally fall between the boundaries of the channel. If prices touch or move outside the channel it is a tradi
Currency Relative Strength
Ziheng Zhuang
5 (2)
Indicators
This indicator shows the relative strength of 8 major currencies: USD, EUR, GBP, AUD, NZD, CAD, CHF and JPY. The strength value is normalized to the range 0-100: The value above 60 means strong. The value below 40 means weak.  The basic principle Given eight currencies, USD,EUR,GBP,AUD,NZD,CAD,CHF,JPY, where each pair of two can be combined, resulting in a total of 28 pairs, a reverse algorithm is used to extract the strength of the eight currencies from these 28 pairs EURUSD,GBPUSD,AUDUSD,NZDU
Italo Volume Indicator
Italo Santana Gomes
4.92 (79)
Indicators
BUY INDICATOR AND GET EA FOR FREE AS A BONUS + SOME OTHER GIFTS! ITALO VOLUME INDICATOR  is the best volume indicator ever created, and why is that? The Indicator works on all time-frames and assets, indicator built after 7 years of experience on forex and many other markets. You know many volume indicators around the internet are not complete, does not help, and it's difficult to trade, but the Italo Volume Indicator is different , the Italo Volume Indicator shows the wave volume, when market
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Yan Zhen Du
5 (1)
Indicators
This is a professional chart indicator designed for traders focused on stability and clear price action. It helps filter market noise and provides clear visual entry and exit zones for your trading decisions. Core Features: Strictly Non-Repainting: The system is built with strict non-repaint logic. What you see on the chart is the true historical performance. Confirmed Signals: Signals are triggered and confirmed only after the candle closes . Once a trading arrow appears on a closed candle, it
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This indicator uses the Zigzag indicator to identify swing highs and swing lows in the price chart.  Once it has identified the swing highs and swing lows, it can use them to determine potential support and resistance levels. A support level is formed when the price drops and bounces back up from a swing low, indicating that there is buying pressure at that level. A resistance level is formed when the price rises and reverses downward from a swing high, suggesting selling pressure at that level.
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This indicator  identifies swing highs and swing lows in the price chart by comparing the Highs and lows of each candle to a specified number of candle before and after it.    Once it has identified the swing highs and swing lows, it can use them to determine potential support and resistance levels. A support level is formed when the price drops and bounces back up from a swing low, indicating that there is buying pressure at that level. A resistance level is formed when the price rises and reve
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Pivot Point Detector
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Th indicator is a technical analysis tool that helps identify significant changes in price trends and filter out minor price fluctuations. It is used to highlight price swings and provide a clearer picture of market movements. The Pivots are found by checking if a certain candle is the highest/lowest in a given number of candles that come before and after it. This indicator has only one input, its period. The Higher the period, the more strict the indicator is about what constitutes a Pivot. Th
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Prop Firm Breakout MT4
Emmanuel Tshepang Mosweu
Experts
This strategy offers a disciplined and systematic approach to capitalize on price movements after periods of consolidation, presenting an excellent opportunity for profit generation. The strategy provides well-defined entry triggers based on price breakouts above resistance or breakdowns below support levels. This clarity allows for precise execution and eliminates guesswork, ensuring timely and efficient trades. In contrast to numerous other programs available in the mql5 market, this strateg
Prop Firm Breakout MT5
Emmanuel Tshepang Mosweu
Experts
This strategy offers a disciplined and systematic approach to capitalize on price movements after periods of consolidation, presenting an excellent opportunity for profit generation. The strategy provides well-defined entry triggers based on price breakouts above resistance or breakdowns below support levels. This clarity allows for precise execution and eliminates guesswork, ensuring timely and efficient trades. In contrast to numerous other programs available in the mql5 market, this strateg
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Dhayatama
335
Dhayatama 2026.04.16 13:31 

Good indicator. Must try...

IK02XXyn
167
IK02XXyn 2024.11.15 13:11 

Buen indicador, Facil de usar y de entender, Gracias por compartir

Bling Bling
28
Bling Bling 2024.04.09 21:08 

Great indicator. Only thing missing is a touch alert feature.

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