Forex Confirmed Zone MT4 Indicator:
About the Forex Confirmed Zone MT4 Indicator
This Indicator has a very simple but applicable idea. It finds all the Support or Resistance Zone or Levels with your requested number of confirmations. you can also determine the maximum width of the zone, so that the width of the zone never exceeds than the value you inserted in the Input Parameters. the default is 20 points or two pips for that. also it just finds the zones with the number of confirmed points equal or more than your preferred numbers.
- Number of Candles(>=10) – Maximum Number of bars you want to search for the zone. It shouldn’t be less than 10 bars.
- Minimum Confirmation Points -Minimum Numbers you want the price go back after enters the zone.
- Maximum Zone Width -Maximum Width of the zone(in point)-it can be less than this value.
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)