Free

The Zee Support Resistance V1 Indicator for MT4 is a Forex trading tool designed to automatically identify Support And Resistance levels using the classic ZigZag indicator. By applying additional filters, it provides high-quality buy and sell signals, giving traders a complete system for identifying entries and exits.

This indicator is suitable for both new and advanced traders, simplifying the process of spotting key levels and reducing subjective decision-making.

How the Zee Support Resistance V1 Indicator Works

The indicator plots:

White Signals: Bullish buy trades
Yellow Signals: Bearish sell trades
Optional ZigZag Lines: Can be displayed on the chart for visual trend context

Note: The indicator recalculates and repaints based on the ZigZag line shifts, so traders should combine it with additional confirmations for higher reliability.

Trading Strategy

Buy Trade

Enter a buy trade when a white bullish signal appears
Place stop-loss below the signal line
Hold the position and book profits at the opposite signal or according to risk-reward strategy

Sell Trade

Enter a sell trade when a yellow bearish signal appears
Place stop-loss above the signal line
Exit upon opposite signal or as per risk-reward plan

This approach helps traders follow the trend while respecting support and resistance zones.

Key Features

Automatic support and resistance plotting using ZigZag
Provides bullish (white) and bearish (yellow) trade signals
Works across all intraday and long-term timeframes
Beginner-friendly, reduces subjectivity in trade entries
Can be integrated into automated trading systems

Why Use the Zee Support Resistance V1 Indicator?

By combining ZigZag-based levels with filtered trade signals, this indicator simplifies trend trading and helps traders spot profitable setups without manual calculations. It is particularly useful for those who rely on support and resistance-based strategies.

Conclusion

The Zee Support Resistance V1 Indicator for MT4 is a ZigZag-based buy and sell signal provider that automatically identifies key support and resistance levels. Its simplicity and effectiveness make it an ideal tool for new traders while providing value for advanced users integrating it into trading systems.