Conor Mcnamara / Profile

I built a zigzag which connects the legs from two moving average crossover points. It's nothing to do with traditional zigzag and is fully about trend of the ma cross. It's more difficult than one may realize to make this good without noisy crossovers ruining the cycle. Moving averages are victim to market noise as you know, especially on short periods. The vertices also should also follow the cycle of LL - HL - LH - HH in sequence for each connecting leg to be in harmony. Invalid legs are inevitable in this one, and I colour them gray

At some point you have a folder full of random indicators. I try to organize it like this in MetaEditor, and in turn, this also organizes the indicators in the software. It's a bit of work, but it's very annoying to have random indicators all within the examples folder

Making a channel between zigzag points is easy, just map the peak and bottom zigzag buffers to two individual "draw_section" drawing styles

It's disheartening to see an EA scalping configuration working well on the OHLC model, but going to zero on real ticks model. I tried to discover the exact reasons. Initially I thought that the live floating spread and slippage are an issue, but this is actually not the issue. Live bid and ask prices are much more unpredictable. A tight trailing stop is then much more rarer to be profitable because of that. A wide trailing stop can be even more damaging to the account if the EA makes a few bad trades. What is the solution? After countless testing, it seems that you will have to use a modest take profit, and that is the real solution if you want to keep the drawdown low. Then use a trailing stop that feels right for the timeframe that the EA trades on.

stash of zigzags 😆

If anyone finds prev_calculated confusing (like I initially did) in MQL5, have a look at this blog post https://www.mql5.com/en/blogs/post/760917

Now have this idea rattling in my mind for a zigzag that forecasts the next leg. Also a grey color that the leg changes to when it's deemed that no valid forecast can be made (during a consolidation period for example)

Published code Autoscaling Zigzag

the person who owns this house must have become successful with the zigzag indicator

Added topic I'm very close to abandoning a practice conversion

If gold starts rallying now, it could be a great buying opportunity. It looks like a support is found on the H1 timeframe, but doji candles suggests indecision, and the trend is uncertain.

Added topic Experiencing an issue with objects when two separate window indicators are on the same chart

If it's hard to see the market sentiment, it's good to use these bears and bulls power indicators and color the histograms this way

If you have a trading system, and you know that the entries corresponding with the system are good, then a tight stop loss or a tight trailing stop is *not* a good idea. If the entries are good, then you should have at least a wide stop loss. Predictable stop losses are being hunted by institutional traders and hedge funds to force retail traders out.

It would be nice to see crypto rallying again, but now it's worrying as Bitcoin is testing the 200 day moving average on D1 timeframe

Today was very uneventful in Gold for new trades. It looked like a lot of profit-taking was going on as it's near the record highs and the weak US data has people concerned. I wasn't looking at the M5 timeframe, but it seemed like that's where the intraday trend was. It wasn't possible to hold anything

It's possible to protect your initial deposit with code..as live equity can be monitored, so when you compare the equity to balance, you can "save" your initial deposite from a disaster. It's very simple code

swing trades on the EA (visual backtest)

I recently launched a signal which is based on algo trading with zigzag. It is known that the zigzag isn't a signal indicator, it's mostly for swing analysis and wave theory, but it can be combined with quantitative indicators or fib retracement levels, or other drawings and filters to give signals. In the EA I built, I extended the algo so that it finds out when the leg stops moving. When this happens, it could mean a support or resistance is found, and a signal is produced on this event way before the opposite leg comes, therefore giving "timeliness" to the zigzag. I also introduced an MA into the core logic so that the MA filters the swings and aids the algo so that it will prevent premature swings. I don't know how successful this will be as a fully automated EA, so let's not expect miracles. Eventually I can make it available to download if it's not overly risky. I'm dedicated to building trading software which is profitable and not destructive.

Added topic Is it possible to emulate one EA inside another EA script?