The technical indicator MT4 3 Level ZZ Semafor TRO MODIFIED VERSION is based on an indicator 3 Level ZZ Semafor
The stock indicator 3 Level ZZ Semafor is based on ZigZag indicator and mark the Semaphores points on the maximum and the minimum of three separate periods: short-term fast period to medium term and long term slow period.
Indicator 3 Level ZZ Semafor TRO MODIFIED track the trend lines connecting the last two semafor points (two last points semafor marking a peak of the market and last two points semafor marking a market bottom)
Horizontal lines of support and resistance levels are plotted at each semafor item.
Additional trend lines connect semafor points of the long-term trend (primary trend).
Fibonacci retracements levels and targets based on semafor points are also plotted.
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Interpretation Rules - Signals From Trading
* Buy signal: Feeling bullish trend
. The 3 Level ZZ Semafor indicator mark lower: Semafor formation of a point below the price of chandelier - The prices mark a bottom early uptrend
. The price closing above the upper trend line: the upside breakout
. The price key support level in an uptrend - Buy
. When a resistance level is broken upwards, it becomes a new support level
* Selling signal: Feeling bearish trend
. Indicator 3 Level ZZ Semafor a brand above: Semafor formation of a point above the price of chandelier - The prices mark a higher, beginning of bearish trend
. The price closing below the lower trend line: the upside breakout - Trend bearish
. The price touches a level of resistance in a bearish trend - Sell
. When a support level is broken down, it becomes a new level of resistance
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Symbol - swap EUR vs JPY
Time unit UT - Time Frame: H1 1 Hour
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