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ZigZagChannel2 draws the channel lines parallel to the last sector of the zigzag. The upper and lower lines are drawn at the maximum possible distance from the zigzag line. Thus, the indicator builds support and resistance lines for the current trend (the trend direction is determined by the ZigZag indicator).

  • Setting the Zigzag parameters (ExtDepth, ExtDeviation, ExtBackstep parameters).
  • Displays the Fibonacci levels for the last sector of the zigzag (the group of parameters of the Fibonacci settings). The values of the levels are set by the user (option Fibonacci percentages).
  • Alerts when the price crosses the Fibo levels on the last closed bar (group of Notifications settings parameters): alert, sound, email, push notifications.
  • Line display settings: color, style, thickness, ray, or line segment (Drawing settings group).
  • Determining the channel angle (displayed as a number in the upper-left corner of the chart).
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