Settings for forex indicator ZONE:
Standing indicators that can accurately determine the price levels are quite small. Not all traders get a lucid explanation of the programmer, by what principle to draw the zone.
Admittedly, the development is very worthwhile. The indicator is designed to determine the price levels and visualize the level of resistance and the level of support. What to do next with these levels, I think you know yourself, but I’ll tell you more about the indicator and show how it works.
Trade through levels of support and resistance boils down to two postulates:
- When the price rebounds from the level of support, it is more profitable to buy a price than to sell. When the price rebounds from the resistance level, it is more profitable to sell than buy.
- If the price breaks through the level of support, it is more profitable to sell than buy. If the price breaks through the resistance level, it is more profitable to buy than to sell.
In my personal opinion, the Zone indicator is one of the best indicators of support and resistance levels for mt4. It can be applied several times to the chart using different parameters, thereby obtaining a clear picture of the reversal levels from all timeframes. This approach will filter signals of absolutely any strategy, both trend and reversal.
Forex indicator ZONE is one of many that no repaint. It deserves everyone’s attention.
Download from my site NIKITABLOG and share your results.
File for the MT4 terminal (ex4 file).