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
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1675
Trading system using the XMUV and MUV_NorDIFF_Cloud indicators.Fractal_Level_Xrust
The indicator draws horizontal lines on the level of last fractals up and down.