Zig Zag Support Resistance Mt4

Zig Zag Support Resistance Mt4

Zig Zag Support Resistance Mt4 is a ZigZag-based Support and Resistance indicator designed to automatically highlight key market structure levels. It uses the classic ZigZag logic (Depth, Deviation, Backstep) to detect significant swing highs and lows, then converts these turning points into horizontal support (lows) and resistance (highs) levels. The indicator can also draw color-coded ZigZag lines directly on the chart to visualize price waves and trend direction. To keep charts clean and practical, both horizontal levels and ZigZag segments are limited to the most recent points defined by the user. Lines automatically stop when price is broken, helping traders focus on valid, active levels only. 

How to Use

1. Attach the indicator to any chart and timeframe.

2. Adjust Depth, Deviation, and Backstep to control swing sensitivity (higher values = fewer, stronger levels).

3. Set Number of Lines (InpNumLines) to define how many recent support/resistance levels and ZigZag points are shown.

4. Enable or disable Horizontal Lines and ZigZag Lines as needed.

5. Use support (red) levels for potential buy zones and resistance (blue) levels for potential sell zones.

6. Combine levels with price action, candlestick patterns, or trend indicators for confirmation.

Best used for structure analysis, pullbacks, breakouts, and intraday or swing trading decisions.