Download indicator zigzag forex

Posted: JulijaR13 On: 06.06.2017
download indicator zigzag forex

Watch how to download trading robots for free. So post a link to it - let others appraise it. You liked the script? Try it in the MetaTrader 5 terminal. The ZigZag Indicator is one on those indicators, that at a misleading first glans, seems to be the "Holy Grail" of all indicators for finding the Tops and Bottoms for set-ups like Swing or Trend Following strategies.

Quite often, newcomers tend to be totally amazed by it, believing that with it, they cannot go wrong. In reality however, nothing could be further from the truth, mainly because it does something called "repainting".

MQ4 MT4 Expert Advisor Exports Forex Real Time Historical Data Files

In other words, during a live progression of price action changes, the indicator changes the most recent Top or Bottom in order to reflect the new price data. By the time the ZigZag Top or Bottom has settled in and establish itself on the indicator, the current situation of the market has long changed and is no longer congruent with the point that was initially indicated as being a Top or a Bottom of the prices.

This, however, does not mean that this indicator is worthless! On the contrary, it can be used quite effectively for analysing past data and creating very good setups for many a strategy - just not in the way most newcomers believe it to be. Now, there are many ways that this indicator is used effectively, and I invite commenters here, to share their ideas about how to effectively use it in their strategies, but that is however, not the main objective of this article.

I set out to take the original ZigZag code by Metaquotes , and to rewrite it in a more easily readable form at least for me , but most importantly, to visually display many of its internal workings which usually are not visible with the original indicator see images below.

Here is the list of the "extra features" which my rendition of this indicator, namely " ZigZagZug " will display for you:. The main purpose of the code and the extra visual cues, serves the purpose, of not only better understanding the workings of this indicator, but also as possible signals that could be used in many a strategy that you may wish.

They could be useful for quick scalping in Breakouts or as pre-signals prior to retracements or others which have not even occurred to me yet. I am sure that many of you will come up with many ideas and hopefully will be willing to share them here with all that read this. Just attach the indicator to a Chart and set the parameters as you would for the original ZigZag indicator.

Please note however, that the order of the parameters is different and that the Depth and BackStep were placed together as they are Bar Periods or Counts.

Optionally set the boolean flag to also Show BreakOut Points on the graph. You can also enable an Alert to be Triggered on BreakOuts of Highs and Lows. The Alert text is configurable so that it can be presented in your own language or words. Please let me know if you find any bugs or have any suggestions or "features" that you would like to have incorporated in future releases.

Gateway Time-out

Example Views of the indicator without and with the optional BreakOut points: I would like to use your indicator into an EA begginer in mql. One of the features i would need is to get last 2 breakouts. Is this something you would like to add or could you please give me a bit of guidance on how I could achieve this?

download indicator zigzag forex

Forum on trading, automated trading systems and testing trading strategies. The Zig-Zag indicator is extremely useful for determining price trends, support and resistance areas, and classic chart patterns like head and shoulders, double bottoms and double tops. The Zig-Zag indicators uses both swing highs and swing lows in its calculation:. The Zig-Zag indicator can use both percentages or points in its construction.

To construct the Zig-Zag indicator, there must be a certain percentage or number of points between a swing high and a swing low before a line will be drawn. The purpose of using a Zig-Zag with a larger retracement percentage is to help eliminate price noise that is not significant for the trader's analysis.

Zig-Zag indicator is extremely effective at uncovering stock cycles while screening out short-term price noise.

Free download of the 'ZigZag Indicator with Extra Features' indicator by 'FMIC' for MetaTrader 4 in the MQL5 Code Base

The Zig-Zag indicator is extremely effective in filtering short-term noise and identifying significant trends and significant changes in market prices. When prices broke resistance, a long-term buy was generated.

Buying in areas where price touched the lower support trendline and selling when prices touched the upper resistance line would have proved extremely profitable. Using the Zig-Zag indicator for shorter-term trades can prove profitable as well. The easily identified head and shoulders pattern gave a sell signal when price on the right shoulder broke the upward slanting trendline.

The Zig-Zag indicator is an excellent technical analysis tool for identifying classic charting patterns. The Zig-Zag indicator is also effective in reducing noise and helping the technical trader see the true market direction.

MetaTrader 5 Experts Indicators Scripts Libraries MetaTrader 4 Experts Indicators Scripts Libraries Watch how to download trading robots for free. Download as ZIP , How to download code from MetaEditor. Taking a Closer Look at the Workings of the ZigZag Indicator The ZigZag Indicator is one on those indicators, that at a misleading first glans, seems to be the "Holy Grail" of all indicators for finding the Tops and Bottoms for set-ups like Swing or Trend Following strategies.

Here is the list of the "extra features" which my rendition of this indicator, namely " ZigZagZug " will display for you: Lines graphs are displayed showing the Highest Highs and Lowest Lows for the "Depth" period , one of parameters of the original indicator. Besides the current and finalised Top and Bottom points used in the ZigZag pattern, it also displays the past points that were considered as strong candidates that at a point were considered a valid Top or Bottom for the ZigZag pattern.

It is usually these that are most often "repainted" as current prices evolve and that newcomers erroneously consider as a valid current top or bottom with disastrous results for their egos and account balance.

Version Change Log Please let me know if you find any bugs or have any suggestions or "features" that you would like to have incorporated in future releases. Bug fix of a sporadic "array out of range" error. Allows the Alerts to be used, even if NOT displaying the BreakOuts.

Displays the Symbol and Time Frame Period in Alert messages, facilitating its use on multiple charts simultaneously. Allows an Alert to be set on BreakOuts of Highs or Lows. There was also a bug fixed that prevented the indicator from updating on fresh tick data. Last comments Go to discussion First of all, thank you for a great indicator and also for releasing it into the wild for free. I tried to do it myself so as not to bother you, however no success.

Sergey Golubev 25 Jun at Vijay Karamchandani 19 Sep at This indicator is not working with my MT4, dont know why.!? Oidov 22 Oct at Thank you this Zigzag ind.

download indicator zigzag forex

It's very interesting to me. I would like to connect with ea. How to do it? Fernando Carreiro 22 Oct at It uses moving average and range to determine it's entries and exits. Screenshot in the original chart size Take screenshot in the original chart size with labels instrument, timeframe. Awesome Bar Counter This is a indicator to see if you can find a trend by drawing a graph with bars counted.

inserted by FC2 system