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ZigZag Support and Resistance

The indicator determines the true support/resistance levels in the interpretation of Tulegen Urazaliev.

1.When a white candle is followed by black and a black candle is followed by white, that is, the color of the candles changes alternately.

  • The support level is drawn through the Low of the white candle, the resistance level - through the High of the black candle.

2.When a white (black) candle is followed by multiple black (white) candles.

The resistance level is drawn through the High of the candle, in which

  1. High of the candle is higher than any Open of this group of black candles,
  2. High of the candle is lower than any High of this group of black candles,
  3. High of the black candle must be higher than any Close from the preceding group of white candles.
  4. If the rule №3 is not met, there is no High on the black candles that is higher than any Close from the preceding group of white candles, then use the highest High from this group of black candles in the ZigZag

The support level is drawn through the Low of the white candle, which is:

  1. Low of the candle is lower than any Open of this group of white candles,
  2. Low of the candle is higher than any Low of this group of candles,
  3. Low of the white candle must be lower than any Close from the preceding group of black candles.
  4. If the rule №3 is not met, there is no Low on the white candles that is higher than any Close from the preceding group of black candles, then use the highest Low from this group of white candles in the ZigZag
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