Support and Resistance
Effortless trading: non-repainting indicator for accurate price reversals
This indicator detects price reversals in a zig-zag fashion, using only price action analysis and a donchian channel. It has been specially designed for short-term trading, without repainting or backpainting at all. It is a fantastic tool for shrewd traders aiming to increase the timing of their operations.
- Amazingly easy to trade
- It provides value on every timeframe
- Chart statistics will help you to optimize your trading
- It implements a multi-timeframe dashboard
- It includes a multi-symbol and multi-timeframe scanner
- It implements email/sound/visual alerts
Based on breakouts and congestion zones of variable lengths, the indicator uses only price action to pick trades and reacts to what the market is doing very fast.
- The potential profit of past signals is displayed
- The indicator analyzes its own quality and performance
- Losing breakouts are highlighted and accounted for
- The indicator is non-backpainting and non-repainting
Input Parameters Configuration
Customize the indicator's behavior with these parameters:
- Period: Number of bars to analyze (default: 20)
- Sensitivity: Detection sensitivity (1-10, default: 5)
- MinStrength: Minimum strength for level detection (default: 3)
- MaxLevels: Maximum number of levels to display (default: 8)
- AlertsEnabled: Enable/disable alerts (default: true)
- ShowLabels: Show/hide price labels (default: true)
All parameters can be adjusted in real-time without reloading the indicator.
Technical Information
Development specifications and technical details:
- Compatible with MT4 build 600+
- Compatible with MT5 build 2800+
- No external dependencies
- Optimized for minimal CPU usage
- Clean, well-documented code
- Regular updates and support
The indicator is developed using best practices and modern MQL4/5 features to ensure optimal performance and reliability.