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Auto ZZ SR Indicator

This indicator automatically draws trend lines using ZigZag extreme top and bottom points. The indicator constantly updates the trend lines on the chart as the market progresses. The indicator will work on any type of account, account #, or chart. All settings are adjustable.


Settings:

  • Delete_Lines - If true, the indicator will delete old trend lines as new ZZ extreme points form. If false, old trend lines will not be deleted.
  • Num_ZZ_Extremes - The number of past ZZ extreme points that will be used for drawing the trend lines.
  • SupportColor - The color of the support trend lines.
  • ResistanceColor - The color of the resistance trend lines.
  • ExtDepth, ExtDeviation, ExtBackstep - These are basic ZigZag indicator settings.
Note: The ZigZag indicator can also be drawn on the chart as well. To do this, simply choose a color in the 'Color' tab.
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