Automatically identifies the market's significant turning points (key highs and lows) and draws dynamic support and resistance zones that update in real-time. 🎯 Unlike traditional static levels, this indicator constantly adapts to the changing price structure.

What is it for? ❓
This indicator is a professional technical analysis tool designed to:

Identify institutional levels: 🏛️ Automatically detects points where the price has formed important high and low structures.
Market structure analysis: 📊 Classifies each movement according to the bullish/bearish structure methodology (Higher Highs, Lower Lows, etc.).
Trend projection: 🔮 Extends trendlines into the future to anticipate potential price reaction zones.
Trading reversals and continuations: 💰 The marked levels serve as a reference for entries, stop-loss, and profit targets.

The indicator draws on your chart: ✍️

1. Support/Resistance Zones (Rectangles)

Green zones: 🟢 Mark support areas (significant lows where the price could bounce).
Red zones: 🔴 Mark resistance areas (significant highs where the price could pull back).
These zones are projected forward, showing the current active levels.
The thickness of each zone represents the candle body where the pivot was formed.

https://chartshots.spotware.com/c/691f5a4d75ac4

https://chartshots.spotware.com/c/691f6b4f2e98b

https://chartshots.spotware.com/c/691f6c6fda808

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2. Connection Lines ⚡

Connect each pivot with the next, creating a visual "zigzag" pattern.
Eliminate market noise, showing only the truly significant movements.
Make it easy to see the direction and structure of the trend at a glance.

3. Projected Trend Lines (Extended Green/Red)

Drawn from the previous pivot to the current one and extended into the future.
Green: 🟢 Bullish trend lines (from lows).
Red: 🔴 Bearish trend lines (from highs).
Shows the 2 most recent and active trendlines.
Useful for detecting trend breakouts or respects.

4. Market Structure Labels 🏷️
Each pivot shows a label indicating its classification:

HH (Higher High): ↗️ Higher High - Bullish continuation.
LH (Lower High): ⬆️ Lower High - Possible bearish reversal.
HL (Higher Low): ⬇️ Higher Low - Possible bullish reversal.
LL (Lower Low): ↘️ Lower Low - Bearish continuation.

Logic behind the algorithm 🧠
The indicator uses an adaptive zigzag algorithm that:

Scans the price looking for highs and lows within a configurable period (default 34 bars).
Filters insignificant movements through a minimum deviation threshold (default 6 pips).
Validates each pivot ensuring it represents a real change in the market structure.
Compares structures between consecutive pivots to classify the type of movement.
Dynamically updates the zones as new pivots appear, removing the oldest ones.

Main Settings ⚙️

Pivot Lookback Bars: Controls the sensitivity of the pivot detector (lower = more pivots, higher = only major pivots).
Price Deviation Filter: Noise filter - movements smaller than this value are ignored.
Maximum Visible Zones: Number of historical levels that remain visible (from 1 to 20).
Zone Display Type: Choose between rectangles (full zones) or simple lines.
Show Extended Trendlines: Activate/deactivate trend projections.

Quick Parameter Guide 📖

Pivot Lookback Bars (Default: 30)

↑ Increase (40-100): FEWER pivots, more important. For swing trading.
↓ Decrease (15-25): MORE pivots, more signals. For scalping/day trading.

Price Deviation Filter (Default: 6)

↑ Increase (8-15): Filters noise, only large movements. Fewer signals, higher quality.
↓ Decrease (2-5): More sensitive, captures small movements. More signals.

Maximum Visible Zones (Default: 6)

↑ Increase (10-20): More historical levels visible. For deep analysis.
↓ Decrease (2-4): Only recent levels. Clean chart.

Historical Pivot Limit (Default: 200)

↑ Increase (300-500): More history for calculations. Long-term analysis.
↓ Decrease (50-150): Only recent structure. Better performance.

Active Projections Count (Default: 5)

↑ Increase (5-10): More projected trend lines.
↓ Decrease (1-2): Only dominant trends. More clarity.

Show Extended Trendlines (Yes/No)

Enabled: Projects trends into the future.
Disabled: Only historical zigzag.

🎯 Quick Setups

Scalping: Lookback 15-20 | Deviation 3-5 | Zones 3-4
Day Trading: Lookback 25-35 | Deviation 6-8 | Zones 5-6
Swing Trading: Lookback 40-60 | Deviation 10-15 | Zones 8-12

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