Support and Resistance Levels from Higher-Timeframe Gann ZigZag Tops

Summary

This indicator description explains a way to plot support and resistance levels from recent tops identified by a Gann ZigZag calculated on a selected higher timeframe. The timeframe can be fixed by the user, allowing the turning-point calculation to be based on a chart interval different from the one currently being viewed. In this design, prior ZigZag highs provide reference levels for price analysis.

The page gives only a brief functional description and an illustration reference; it contains no rules for entering or exiting trades, no market examples, and no performance evidence. ZigZag turning points depend on subsequent price movement and may be revised or recognized with delay, so levels based on them do not establish predictive value on their own. The indicator also depends on companion compiled files being installed in the platform’s indicator directory. Traders would need to inspect its behavior and test any level-based rules independently.

Key ideas

• The indicator derives support and resistance references from recent highs identified by a Gann ZigZag.
• Users can choose a fixed timeframe for calculating the ZigZag.
• The description provides no trading rules or evidence that the plotted levels predict price behavior.
• The indicator requires companion compiled files in the platform’s indicator directory.
• ZigZag turning points can be delayed or change as later prices arrive.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.