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2013.05.15 10:54
Indicators

ChannelZZ - indicator for MetaTrader 5

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channelzz.mq5 (22.27 KB)view
zz.mq5 (18.08 KB)view

The real author:

Tinytjan aka TheXpert

The ZigZag drawn using channel principle.

The indicator displays some statistics - the ratio of the offcut length to the previous one and the offcut length itself (the length is the height in points from the lower point to the upper one).

The ZZ.mq5 file is the zigzag without drawing the channel!

This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 01.08.2008.

Fig.1 The ChannelZZ indicator

Fig.1 The ChannelZZ indicator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1675

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