Liquidity Levels

Basically this is a version of Support & Resistance.

The lines (Liquidity Levels) are generated connecting the highs and lows of the Zig Zag indicator on MT4 (see bottom diagram).

Zig Zag is set at:

Depth – 4

Deviation – 5

Backstep - 3

How this works

The lines are created when they form a new high or low point on the Zig Zag indicator (see bottom diagram).

When the price breaks the line, the line changes to the small grey line seen in the below diagram.

I would like it to look like the top diagram

Variables that I would like to be able to adjust:

·       History bars processed – how many bars are processed (example 2500)

·       Zig Zag Depth, Deviation & Backstep

·       Timeframes

·       Colour & Thickness of all the lines