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MT ZZ HIGH LOW

The indicator displays the price movement as three zigzags of different time periods (current, older and yet even older timeframes) on a single chart.

Zigzag is generated by HIGH-LOW price values.

The indicator also displays:

  1. Support and resistance levels by the last bends of the older and yet even older zigzags.
  2. Unfinished movement of the current timeframe's zigzag, older zigzag and yet even older one is displayed in another color.

Parameters

  • TimeFrame: timeframes the zigzags are calculated on.
  • MaxBar: amount of processed bars (0 - all).
  • zzCalculate: 0 - zigzag is not calculated, 1 - zigzag is calculated.
  • CalculateDigit: zigzags to be processed.
  • i_show_Res_Sup: true - display the older zigzag's support and resistance levels, false - do not display.
  • i_show_Res_Sup_ST: true - display the yet even older zigzag's support and resistance levels, false - do not display.
  • i_showZZ_2: true - display older zigzag, false - do not display.
  • i_showZZ_3: true - display yet even older zigzag, false - do not display.
  • extremBar: 1 - the previous bar's trend is continued at the external bar, 0 - the ray from the previous bar heads towards the nearest external bar's extremum.
  • Resistance: yet even older zigzag's resistance color.
  • Resistance1: older zigzag's resistance color.
  • Support: yet even older zigzag's support color.
  • Support1: older zigzag's support color.
  • ActiveWave: color of the unfinished move of the current timeframe's zigzag.
  • ActiveWave1: color of the unfinished move of the older zigzag.
  • ActiveWave2: color of the unfinished move of the yet even older zigzag.
  • _Resistance: width of the yet even older zigzag's resistance line.
  • _Resistance1: width of the older zigzag's resistance line.
  • _Support: width of the yet even older zigzag's support line.
  • _Support1: width of the older zigzag's support line.
  • _ActiveWave: width of the current timeframe zigzag's unfinished move line.
  • _ActiveWave1: width of the older zigzag's unfinished move line.
  • _ActiveWave2: width of the yet even older zigzag's unfinished move line.
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