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2011.10.31 17:15
Indicators

ZigZag on Parabolic - indicator for MetaTrader 5

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Published by:
Nikolay Kositsin
Views:
5313
Rating:
votes: 13

Real author:

EarnForex

This indicator builds ZigZag based on the Parabolic SAR indicator. This is an advanced ZigZag version marking extreme values on a chart with less lag. The standard ZigZag looks for a new extreme value following the price percent deviation from a previous extreme value. This new indicator keeps track of a price crossing with Parabolic SAR.

Input parameters:

  • Step (default value = 0.02) — standard Parabolic SAR indicator parameter;
  • Maximum (default value = 0.2) — another standard Parabolic SAR indicator parameter;
  • ExtremumsShift (default value = true) — if true, extreme values are shown at their actual location; if false, extreme values are shown at the time points where the indicator locates them. It helps to improve working with extreme values.

ZigZag on Parabolic

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/526

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