• Overview
  • Reviews (22)
  • Comments (61)
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Support and resistance levels

The indicator displays the probable (Support and resistance) levels.

The indicator settings:

  • Trends - the mode for displaying trend lines or horizontal lines of support and resistance
    • Yes - display trend lines only
    • No - display horizontal lines only
  • UseResource - use the resources built into the indicator.
    • Yes - use the ZigZag indicator from the resources of the product.
    • No - use a custom ZigZag indicator.
  • HistoryBar - the number of bars in history for displaying the levels
  • CountBar - the number of bars starting from the current to search for the support and resistance levels
  • Settings of the ZigZag indicator used in the product:
    • Depth — the minimum number of candlestick, for which Zigzag will not draw the second maximum (or minimum), if the last one is Deviation less (or greater) than the previous one;
    • Deviation — the minimum number of points between the Highs/Lows of two adjacent candlesticks for the Zigzag to form a local top/bottom;
    • Backstep — the minimum number of candlesticks between the local Highs/Lows.

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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.  This indicator needs the data of all 28 paris and 9 timeframes. Use the EA Downloadhistory28&9 to download data automatically. --> https://www.mql5.com/en/blogs/post/728216 Reference for calling it in EA :  https://www.mql5.com/en/blogs/post/730961 Inputs  (full scre
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Reply from developer Alexandr Bryzgalov 2021.09.14 13:34
Hi.
Most likely you received a notification about how you downloaded the indicator earlier. Recently I updated the Support and resistace levels indicator, so you received a notification.
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Reply to review
Version 3.0 2021.09.14
Now the indicator gives up and down signals.
Version 2.54 2021.03.04
Added prefix to object names. Made for error-free drawing of lines from different copies of the indicator with different settings.
Version 2.53 2021.02.20
Исправлена отрисовка трендовых уровней при обновлении экстремумов
Version 2.52 2020.12.07
At the request of users, added the ability to change the color of the levels.
Version 2.51 2020.04.15
Обновление по просьбе сервиса.
Version 2.5 2018.11.26
The informational message displayed in the lower right corner of the chart to which the indicator is attached has been deleted.
Version 2.1 2017.04.25
Fixed the text of the information message which appears when a new support/resistance level is identified.
Added the indicator message in the bottom right corner of the chart, to which the indicator is attached.
Added a new "Trends" mode for displaying the support and resistance lines. The standard ZigZag is used for identification of levels in this mode. Parameters of the ZigZap have been moved to settings. The parameters provide the ability to select (UseResource) the ZigZag to be used - the one attached to the indicator as a resource or a custom ZigZag. When UseResource=No, the indicator loads faster.