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
The Acceleration/Deceleration Indicator (AC) measures acceleration and deceleration of the current driving force.Average Directional Movement Index (ADX)
The Average Directional Movement Index Indicator (ADX) helps to determine if there is a price trend.