Download the Support and resistance indicator (Support and resistance)

Indicator Settings:

• Trends-Setting the mode for displaying trend or horizontal support resistance levels
• Yes-displays only trend levels
• No-displays only horizontal levels
• UseResource-Sets the mode for using the resources built into the indicator.
• Yes – use the ZigZag indicator from the product resources.
• No – use a custom ZigZag indicator.
• HistoryBar – the number of bars in the history on which the levels are displayed
• CountBar – the number of bars, starting from the current one, where support and resistance levels are searched
• Settings of the ZigZag indicator used in the product:
• Depth — the minimum of candlesticks, on which the ZigZag indicator will not build a second maximum (or minimum), if it is less (or more) on the Deviation of the previous one, respectively;
• Deviation — the minimum number of points between the highs/lows of two adjacent candlesticks, in order for the ZigZag indicator to form a local top/bottom;
• Backstep — the minimum number of candlesticks between local highs/lows.

• Yes-displays only trend levels
• No-displays only horizontal levels

[spoiler title=”Read More…”]

• Yes – use the ZigZag indicator from the product resources.
• No – use a custom ZigZag indicator.

• Depth — the minimum of candlesticks, on which the ZigZag indicator will not build a second maximum (or minimum), if it is less (or more) on the Deviation of the previous one, respectively;
• Deviation — the minimum number of points between the highs/lows of two adjacent candlesticks, in order for the ZigZag indicator to form a local top/bottom;
• Backstep — the minimum number of candlesticks between local highs/lows.

[/spoiler]