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MTF Support and Resistance using ZigZag for MT5

5
This is a multi-timeframe indicator that detects and displays support and resistance (S&R) lines using the ZigZag indicator.

Features
  • The support and resistance lines are not redrawing.
  • The indicator is capable of adding new support and resistance levels as they appear.
  • Each S&R line has a tooltip that displays the price level and start time.
  • Save time for multi-timeframe analysis on trades.
  • All types of alerts (sound, pop-up, email, mobile push notification) are available.
  • Working with all pairs (forex, metals, indices, stocks, cryptos,...).

Input parameters
  • TimeFrame - Choose the Timeframe to analyze. Can be current or higher.
  • Depth - The minimum of the candles on which the ZigZag will not make a new extreme.
  • DisplayHTFSR - Display additional support and resistance levels based on higher timeframes than the selected 'TimeFrame' value.
  • HTFZigZagDepth - ZigZag depth of higher timeframes.
  • ATRPeriod - ATR Period used to adjust the distance between S&R lines.
  • ATRFactor - A higher ATR Factor value will produce fewer S&R lines. Zero means the indicator will choose the best value.
  • MaxHistoryBars - The number of bars for calculation (to speed up the calculations and reduce the CPU usage).
  • SupportLineColor - Color of the support lines.
  • ResistanceLineColor - Color of the resistance lines.
  • SRLineStyle - Style of the support/resistance lines.
  • SRLineWidth - Width of the support/resistance lines.
  • DisplayAlerts - Display alerts (pop-up) when touching a level.
  • EmailAlerts - Send alerts via email when touching a level.
  • PushAlerts - Send alerts to mobile when touching a level.
  • SoundAlerts - Play sound alerts when touching a level.
  • SoundFile - Name of the sound file.


Reviews 1
strazzy
197
strazzy 2024.06.02 12:32 
 

good indicator.

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The Volume Plus indicator for MT5 can be effectively used for detecting imbalances in supply and demand. The indicator improves on the typical volume histogram by coloring the bars. Bar colors (colors are customizable): Neutral - DimGray Wide Spread (Range) Bar on High Volume - MediumBlue Narrow Spread, High Volume - MidnightBlue Wide Spread, Low Volume - ForestGreen Narrow Spread, Low Volume - DarkGreen Very/Ultra Wide Spread, Low Volume - Aqua Narrow Spread, Ultra High Volume - Purple V
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Having a chart window that has multiple pairs (symbols), timeframes, and indicators displayed simultaneously can be quite advantageous. This indicator will allow traders to place multiple chart objects in a sub window of the main chart window. The indicator is capable of adding all available MT5 indicators and custom indicators to the existing chart. The list and parameters of the indicators are for reference at: https://www.mql5.com/en/docs/indicators Input parameters Name Example Indicat
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This is a multi-timeframe indicator that detects and displays support and resistance (S&R) lines using the ZigZag indicator. Features The support and resistance lines are not redrawing. The indicator is capable of adding new support and resistance levels as they appear. Each S&R line has a tooltip that displays the price level and start time. Shows the start time, price level and number of touches of all S&R lines when pressing the shortcut Shift+I Save time for multi-timeframe analysis on
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strazzy
197
strazzy 2024.06.02 12:32 
 

good indicator.

Huu Hai Ngo
1011
Reply from developer Huu Hai Ngo 2024.06.02 15:52
Hello Strazzy, Thank you very much for your review.
Reply to review
Version 1.35 2024.05.26
Add the input parameter HTFZigZagDepth.
Version 1.33 2024.05.23
Various improvements.
Version 1.30 2023.11.06
Many new features added!
Various improvements.
Version 1.2 2023.07.15
Added the function to determine support/resistance levels for 60 weeks and 60 months
Version 1.1 2023.05.31
Fixed a bug.