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Indicators

Zigzag2_R_channel_System - indicator for MetaTrader 5

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575
Rating:
votes: 18
Published:
2017.11.03 12:27

The indicator implements a breakout system using the Zigzag2_R_channel indicator channel, as well as generates alerts, sends push and email notifications when the price breaks the channel drawn through the zigzag peaks.

When price exits the gray channel, the candlestick color changes to the color corresponding to trend direction. Green for the growth of a financial asset, pink color for its fall. Bright colors denote coincidence of trend direction and direction of a candlestick. Dark colors correspond to the situation when the direction of a candlestick is opposite to trend.

When using this indicator keep in mind that the source ZigZag whose peaks are used for building the channel is a redrawing indicator.

Fig. 1. Zigzag2_R_channel

Fig. 1. Zigzag2_R_channel

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/18939

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