ZP Day Trading Indicator in MT4 Download - Free - [TradingFinder]

The ZP Day Trading Indicator identifies price range zones and displays them using colored boxes on the chart. Price fluctuations within a defined area, between a support and resistance zone, form the trading range zone.

This indicator is developed based on the Price Action trading style and, besides marking the zones, provides entry signals for trades.

ZP Day Trading Indicator Specifications

The table below provides an overview of the main specifications of the indicator:

Buy Signal in an Uptrend

When the price breaks above the range zone, the indicator highlights the area with a blue box and generates a buy signal with a light blue arrow.

The chart of the GBP/USD currency pair on a 1-hour timeframe demonstrates the indicator's functionality during an uptrend.

Sell Signal in a Downtrend

Based on the price chart analysis of the EUR/USD currency pair on a 4-hour timeframe, when the price breaks below the range zone, the indicator marks the area with a red box and issues a sell signal using a red arrow.

ZP Day Trading Indicator Settings

This section includes options for modifying the display parameters of the tool:

• Chart theme: Indicator theme;
• Min range: Minimum range for data analysis; default value 5;
• Max range: Maximum range for data analysis; default value 30;
• Display analysis: Show analytical information on the chart;
• Display profits: Display profit and loss amounts on the chart;
• Analysis color: Color for the displayed analytical insights on the chart;
• Profits color: Color representing profit;
• Bull color: Color for bullish boxes;
• Bear color: Color for bearish boxes;
• Alert message: Alert with a message;
• Alert email: Alert via email;
• Alert sound: Sound alert;
• Look back: Number of candles analyzed for calculations; default: 1000.

Conclusion

The ZP Day Trading Indicator identifies accumulation zones and balance areas between buyers and sellers, known as range zones, on the chart and provides signals for trade entries.

This indicator is designed based on the Price Action trading style and can be used across all markets.