The most important difference of this indicator from other versions of the zigzag is determination of the trend on a breakthrough level of the local extremums. The number of levels is set in parameters and means that, for instance, in ascending move the trend change will be fixed only when the least of the N local minimums will breakthrough price (where N is a number of levels). For more visualization the Delta ZigZag displays these reversal levels.
Besides, the indicator can be drawn as on high/low prices, so on close prices, and forms the section reversal only on the basis of the minimum swing height set by the trader. It should be noted that drawn on close prices Delta ZigZag with the number of levels equal to 1, in fact is identical to Kagi charts (visual presentation is different, but logics is the same).
As for high/low prices, the following features apply also:
If the last section of zigzag is ascending:
The similar rules applied to descending sections of the indicator.
Delta ZigZag with the number of reversal equal to 2:
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1321
The indicator displays trend force and directionytg_Trend
The trend indicator that displays possible rollback option