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Published:

2018.09.06 19:39

Updated:

2018.11.19 13:30

ATRZigZag.mq5 (18.54 KB) view

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ZigZag implementation using an ATR threshold for directional change, as well as a secondary trigger based on time.

Variable input settings include changing:

The multiplier of the ATR threshold
Period for ATR calculation
Minimum and maximum number of bars before allowing or forcing a direction change
A setting for realtime processing of most current bar (can lead to redrawing)

In effect, the zigzag captures swings in a balanced, dynamic, and adjustable manner making it excellent for zigzag based analyses and trading strategies.

ATR zigzag in action

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ATR ZigZag - indicator for MetaTrader 5