Zigzag and Trend
ZigZag and trend indicator is a great tool that will allow you to predict trend changes or confirm the current trend in a quick and intuitive way on the chart. The indicator draws support lines when the trend is bullish or resistance lines when the trend is bearish. The indicator also draws the popular ZigZag lines and shows buy and sell signals in the form of bullish or bearish arrows.
- DrawZigZag: True to draw zigzag.
- ZigZag Lenght: This is the number of candles on which the ZigZag lines and trend lines are calculated.
- Support/Resistance range(1 to 20,0=deactivate): The level of support and resistance is calculated according to this value. The signals are generated by the breaking of these levels. Recommended maximum value is 20.
The default values have been optimized for the EURUSD in the M15 Timeframe.
Some internal improvements have been made.
To simplify the indicator, the color variables have been eliminated.
2. The options "speed" and "Resistance / Support range" were eliminated, now they are calculated in relation to the variable "ZigZag Length"