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ZigZag Levels

The Zig-Zag based levels indicator is a highly accurate tool for Forex trading that will help you improve your strategy and make more precise decisions. It uses the Zig-Zag algorithm to identify various support and resistance levels on the market, based on which you can determine when it is best to enter or exit a trade.

This indicator has high performance and accuracy in calculating levels, which allows traders to gain maximum profits with minimal risks. Thanks to its intuitive interface, you can easily customize and use the indicator for your Forex trading strategies.

Additionally, the Zig-Zag based levels indicator has high adaptability to changing market conditions, which provides stable and reliable performance in any circumstances. This product becomes an indispensable assistant for any trader who wants to achieve maximum profits in Forex.

Settings:
  • Deviation: the minimum value of the number of percentage points between the highs and lows of two neighboring candles on the chart for the indicator to form a peak or local trough.
  • Depth: the minimum number of candles at which ZigZag will not build a second maximum/minimum if the conditions of the first parameter are suitable for building the pattern.
  • Backstep: the minimum number of candles between local highs or lows.
  • Width Level: thickness of the levels.
  • Color Level High/Low: color of the levels that will be built from the High/Low of candlestick extremes. Set to "None" to turn off display.
  • Color Level Close: color of the levels that will be built from the Close of candlestick extremes. Set to "None" to turn off display.
  • Notify Level touches High/Low: enable notification when the price touches the levels from High/Low candlestick extremes.
  • Notify Level touches Close: enable notification when the price touches the levels from Close of candlestick extremes.
  • Analysis History Bars: how far in history to show the levels.
  • Show History Bars: how far in history to search for candlestick extremes for building levels.
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