The indicator compares Fractal and Zigzag indicators to define hard Support and Resistance.
The arrow signal appears when a new support or resistance emerges or when the price breaks through Support and Resistance zone.
This indicator is efficient in conjunction with a rebound and breakout strategy.
It works well on H4 and D1 for all pairs.
Settings
- BarCounts = 200;
- FastPeriod = 7 – fast period
- SlowPeriod = 14 – slow period
- Show_SR = true – show support/resistance
- Show_Arrows = true – show up/down arrows
- Alert_Settings = “+++++++++++++++++++++++”;
- SendMailMode = false – send a signal email
- SendNotificationMode = false – send a push notification to your phone
- AlertMode = false – sound alert
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