Support and resistance levels

The indicator displays the probable (Support and resistance) levels.

The indicator draws horizontal and trend levels of support and resistance.

The indicator settings:

• Trends - the mode for displaying trend lines or horizontal lines of support and resistance
• Yes - display trend lines only
• No - display horizontal lines only
• UseResource - use the resources built into the indicator.
• Yes - use the ZigZag indicator from the resources of the product.
• No - use a custom ZigZag indicator.
• HistoryBar - the number of bars in history for displaying the levels
• CountBar - the number of bars starting from the current to search for the support and resistance levels
• Settings of the ZigZag indicator used in the product:
• Depth — the minimum number of candlestick, for which Zigzag will not draw the second maximum (or minimum), if the last one is Deviation less (or greater) than the previous one;
• Deviation — the minimum number of points between the Highs/Lows of two adjacent candlesticks for the Zigzag to form a local top/bottom;
• Backstep — the minimum number of candlesticks between the local Highs/Lows.