Zee Support Resistance V1 Indicator: Day, Week, Month

Written by Dominic Walsh · Published 17 Jul 2026 · Last updated 9 Sep 2026

The zee support resistance v1 indicator draws levels that already exist. Yesterday’s high, low and close. Last week’s. Last month’s. Plus the floor pivot for today. No detection runs at all, because these prices are simply facts.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	0
Alerts	popup, push notification, email, sound
Inputs	18

What the Zee Support Resistance V1 Indicator draws on the chart

Deep sky blue rays mark the previous day levels when `ShowDaily` is true.

Orange rays mark the previous week and magenta the previous month.

A gold ray marks the current floor pivot when `ShowPivot` is true.

Text objects label each ray, and no plot buffers exist here.

How the Zee Support Resistance V1 Indicator calculates its values

Straight reads from higher timeframes

The code asks the terminal for the high, low and close of the previous D1, W1 and MN1 bar. Those nine numbers become the levels. There is no averaging and no clustering anywhere.

The pivot is one formula

The floor pivot adds the previous day high, low and close, then divides by three. It is the oldest level formula in the book, and `ShowPivot` controls whether it appears.

Touch detection is deliberately literal

A touch compares the last completed bar against each level, widened by `TouchBufferPts` `0`. At the default there is no tolerance at all, so price has to actually reach the number.

How to read the signals

These levels change only when a new day, week or month begins.

`ShowClose` toggles the close level separately from the high and low.

Line widths differ, with `HLWidth` `2` heavier than `CloseWidth` `1`.

Monthly levels matter most, because the fewest traders can ignore them.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

`EnableAlerts` controls all four routes and arrives true, with `EnablePopup` handling the terminal box. `EnablePushNotify`, `EnableEmail` and `EnableSound` sit at false until you change them, and `SoundFile` names the clip they play.

Every Zee Support Resistance V1 Indicator input

Core settings

Setting	What it does	Default
TouchBufferPts	Extra touch tolerance (points). Extra tolerance on a touch, in points, default `0`.	0

Display settings

Setting	What it does	Default
ShowDaily	Show previous Day H/L/C. Draw the previous day levels, default `true`.	on
ShowWeekly	Show previous Week H/L/C. Draw the previous week levels, default `true`.	on
ShowMonthly	Show previous Month H/L/C. Draw the previous month levels, default `true`.	on
ShowClose	Show the C (close) level of each period. Include the close level of each period, default `true`.	on
ShowPivot	Show current-day floor pivot PP. Draw the current floor pivot, default `true`.	on
DayColor	Daily levels. Colour of the daily rays, default `clrDeepSkyBlue`.	deep sky blue
WeekColor	Weekly levels. Colour of the weekly rays, default `clrOrange`.	orange
MonthColor	Monthly levels. Colour of the monthly rays, default `clrMagenta`.	magenta
PivotColor	Current-day pivot.	gold
HLWidth	High/Low line width. Width of the high and low rays, default `2`.	2
CloseWidth	Close line width.	1

Alert settings

Setting	What it does	Default
EnableAlerts	Controls all four alert routes, default `true`.	on
EnablePopup	(see inputs panel)	on
EnablePushNotify	(see inputs panel)	off
EnableEmail	(see inputs panel)	off
EnableSound	(see inputs panel)	off
SoundFile	(see inputs panel)	alert.wav

Settings that fit your chart

Period levels suit intraday charts, where they sit within reach. EURUSD H1 is the reference chart, and the daily levels get tested most sessions. On M5 all nine levels can crowd the screen. On daily bars the monthly ones matter most.

When the Zee Support Resistance V1 Indicator fails

`TouchBufferPts` `0` means an approach that stops one point short reports nothing.

Nine levels plus a pivot is a lot of lines for one chart.

A level is only a level because traders watch it, which nothing here verifies.

Copy the compiled Zee Support Resistance V1 Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Related on forexmt4systems.com: Support and Resistance Strategy.

Background reading on the method behind the Zee Support Resistance V1 Indicator: Basis trading on Wikipedia, MACD Moving Average Convergence Divergence Oscillator at StockCharts ChartSchool.

Download the Zee Support Resistance V1 Indicator for MT4 and MT5

The zip holds the compiled Zee Support Resistance V1 Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

What does TouchBufferPts 0 mean in practice?

That a touch has to be exact. Price must reach the level itself, not near it. Adding a few points of tolerance makes the alert fire on an approach, which most traders find more useful than a literal hit.

Why include ShowClose as a separate switch?

Because the previous close behaves differently from the high and low. Many traders watch it as an open-versus-close reference rather than as support, so being able to hide it separately keeps the chart focused.

How is the ShowPivot level calculated?

The previous day’s high, low and close added together and divided by three. That is the classic floor pivot. It ships on, and it is the only level here that comes from arithmetic rather than a direct read.

Why does ShowWeekly change so rarely?

Because they come from completed daily, weekly and monthly bars. A daily level holds all day, a weekly one all week. That stability is the point, since a level everyone can see is worth more than a moving one.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Zee Support Resistance V1 Indicator as one input. Always backtest before trading live.