This indicator differs from the standard Kagi chart as it is drawn on a considering timeframe, so the process of forming of "yang" and "yin" lines is exactly traced. In fact, no Moving Averages or periods, and only price movement on a certain distance and breakthrough of the previous local minimums/maximums are used in drawing the Kagi charts. Suggested that the Kagi is not "one more kind of chart", but represents a good alternative to different trend indicators.
Comparison of the KagiOnChart indicator (in the main window) with a standard chart-indicator Kagi (in the subwindow). The analogical area of the indicators is marked in the figure, but in the first case consider time of lines formation, in the second case don't consider it.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1319
A Moving Average hybrid of digital and analog filtering.ZigZag On Heikin Ashi
The ZigZag drawn using Heikin Ashi extremums