Zig Zag with Support and Resistance Rays
Info
The Zig Zag with Support and Resistance Rays is a Indicator for MetaTrader 5 that a standard zig zag indicator enhanced with support and resistance levels. This indicator is also available for MQL4.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Zig Zag with Support and Resistance Rays
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
A standard Zig Zag indicator enhanced with support and resistance levels.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Opening Gap Tracker: Daily, Weekend Gaps with Fill Tracking and Alerts - another powerful indicator for MetaTrader 5 traders.
A standard Zig Zag indicator enhanced with support and resistance levels.Also recommended: ICT Model Tracker: Sweep, MSS, and FVG Analysis with Performance Statistics - similar indicator with strong performance on MetaTrader 5.
This indicator is also available for MQL4.The MQL4 version can be found at the MQL5 Code Base in 2026.
Zig Zag with Support and Resistance Rays
This tool combines the classic Zig Zag indicator with key support and resistance levels. The Zig Zag helps identify significant price swings, while the support and resistance rays provide visual cues for potential turning points and areas of interest in the market. This combination can aid traders in identifying trends, potential reversals, and strategic entry or exit points. The indicator is designed for clarity and ease of use, helping traders make more informed decisions.
Please note that the MQL4 version of this indicator is available separately and was updated in 2026.
You may also like: Line Master: Advanced Trend Lines with Change Signals - excellent alternative for indicator users on MetaTrader 5.
Source Code
/.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.