Support and Resistance Multiperiod (Zig Zag Based)

Arun_K_Bhaskar アップデート済   
Support and Resistance Multiperiod (Zig Zag Based)

What is the indicator?
• The indicator is a multi period (up to 5 lengths) Support and Resistance indicator calculated based on Zig Zag.

Who can use?
Scalpers to Long term investors

What timeframe to use?
• Any timeframe

What are the lines?
• Green lines are Support levels.
• Orange lines are Resistance levels.

How to use?
• Buy Low and Sell High.
• Brighter zones means strong Support or Resistance.
• Weaker zones appear lighter.
• Brighter zones are formed by overlapping of lines from multiple levels of support or resistance.

Indicator Menu
• The indicator can input 5 different Lengths.
• The default settings uses 13, 21, 52, 100 & 200.
• Every option are customizable.
Updated on 25 June 2022

  • Updated line width and color transparency.
Updated on 4 September 2022
  • Corrected Pinescript error which effect the color.
Updated on 10 September 2022
  • Corrected some Pinescript color overlap bugs. But some still exists.
  • Added support and resistance lines.
  • Added reversal swings change.

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