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2009.12.31 15:06
Channel ZZ

Channel ZZ - indicator for MetaTrader 4

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Views:
8857
Rating:
votes: 2


A brand-new version of the old indicator

Now it has more speed and functionality.

Merry Christmas and happy New Year!

Translated from Russian by MetaQuotes Software Corp.
Original code: http://www.mql5.com/ru/code/9428

Last comments | Go to discussion (5)
Karlis Balcers
tsaktuo | 1 Jan 2010 at 00:43

Thank you!

Profitful year 2010!

FXIA
FXIA | 11 Jan 2010 at 03:31

Channel Zig Zag indicator, but how or why does it form a channel surrounding the ZZ lines? Are they projected areas where price may go? How may a ZZ indicator be used for a trade method or system when it repaints, people say repainting indicators can be used safely but never offer a way to show this with real trades or simulated.

Андрей
TheXpert | 11 Jan 2010 at 10:55
FXIA:

Channel Zig Zag indicator, but how or why does it form a channel surrounding the ZZ lines?

Not Zig Zag makes the channel but the channel processing makes Zig Zag. Have you tried to run it and to observe its behavior live? Or at least in visual mode?

Are they projected areas where price may go?

No, it's just a channel, but this channel is formed by price.

How may a ZZ indicator be used for a trade method or system when it repaints, people say repainting indicators can be used safely but never offer a way to show this with real trades or simulated.

Only the recent extremum repaints.

MQL4 Comments
mql4_comments | 1 Feb 2010 at 11:02

hello

what this numbers represents?

Андрей
TheXpert | 3 Feb 2010 at 12:46
mmmmmm:

hello

what this numbers represents?

It also displays some statistics - the ratio between the length of the section and that of the previous one, the length of the section (by length we mean the height in points from the lowest to the highest point).