Zee Support Resistance V1 Indicator

Zee Support Resistance V1 Indicator

Zee Support Resistance V1 Indicator For MT4 plot support and resistance based on ZigZag MetaTrader indicator. Best forex buy and sell signals with filters.

The Zee Support Resistance V1 indicator for MT4 helps forex traders to get support and resistance based on the classic ZigZag indicator. Additionally, it employs filters to enhance the quality of the buy and sell forex trading signals. As a result, forex traders get a complete trading system with entry and exit signals.

The indicator is simple to use for new and advanced forex traders. Furthermore, new traders will find it easy to identify the best support and resistance automatically and avoid subjective decisions. However, new forex traders should note that this indicator recalculates and repaints according to the shift of ZigZag lines.

Moreover, this indicator works well in all intraday time frame charts as well as the daily, weekly and monthly time frames. Generally, ZigZag forms an integral part of many auto trading systems for trend identification.

Zee Support Resistance V1 Indicator For MT4 Trading Signals

The indicator plots White bullish trade signals and Yellow bearish ones. Traders can enable to show the ZigZag lines on the price chart in the indicator settings. The trading strategy is to enter the markets based on the formation of these signals.

Traders can enter the market with a buy trade, if a bullish white line appears on the chart. A stop loss should be placed below the signal line; traders should hold positions and book profits upon the scissor signal or wait for an opposite trading signal.

A similar trading strategy can be followed in a bearish market trend if the yellow signal line appears on the price chart.

Conclusion
In summary, the Zee Support Resistance V1 indicator for MT4 is a ZigZag based forex trading buy and sell signal provider. It is effective for new forex traders as it automatically plots the support and resistance.