Support and Resistance Zones is a trusted index for automatically determining the most important support and resistance zones on the history, using algorithms for processing big info.
The Support and Resistance Zones indicator consists of two main algorithms:
Parameters of the Support and Resistance Zones indicator:
- color – color of the support and resistance zones.
- History bar – the amount of pubs on the history that the indicator will use to calculate support and resistance zones. You can increase the number of history bars to use a large amount of history, or reduce it to use only the latest data.
- timeframe – the calculated timeframe of the indicator.
- Snap To Price State-the function allows you to keep a good appearance of the chart. If this feature is enabled, only the support and resistance zones adjacent to the last price will be displayed on the chart. You can also adjust the distance to adjacent zones by changing the parameterSnap To Price Percentage.