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Indicators

ATR ZigZag - indicator for MetaTrader 5

Andre Enger

Views:
762
Rating:
votes: 10
Published:
2018.09.06 19:39
ATRZigZag.mq5 (18.54 KB)view

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
  • Minumum 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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