This indicator is considered to be a trend one and its operation principle is quite simple: as soon as it changes its color to green, it means the start of an uptrend, if the color is changed to red, a downtrend starts. The indicator has one disadvantage - it often lags but, nevertheless, it is quite popular among traders. For better results the indicator should be used as confirmation for the market entry.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/527
This ZigZag indicator is based on the Parabolic SAR technical indicator.Demand Index
The Demand Index combines price and volume in such a way that it is often a leading indicator of price change.