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2010.04.19 08:01
Indicators

Three Indians - indicator for MetaTrader 4

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21775
Rating:
votes: 2

Detection of a pattern "three Indians" on the basis of the ZigZag.

About system :

I will not give here the system description. It easily can be found in a network.
"Three Indians" is a translation from Russian, probably, there is other name in English, write me it in comments please...))
I will only remind that the system is rather critical to the general situation in the market. The pattern itself in a separation from a market situation is not a signal for trading.

There are two basic methods:

Trade on a trend - less risky method when a pattern crowns with itself the termination of correction of already developed trend, and gives a signal to its continuation:


Trade on a turn, more risky method when a global change of the tendency is supposed, in this case waves of the patern should be more significant on the size in relation to a trend or its last wave:


Options:
The beginnings and the middle of lines are located on 1st and 2nd prospective Indians accordingly.

extern int ExtDepth=10;//zigzag options

extern int ExtDeviation=5;

extern int ExtBackstep=3;

extern double K_MinWave=0.6;//the minimum size of a wave from 1st Indian in relation to a wave of 2nd, to filter small waves

extern int Depth=3;///depth of search of 1 Indian, accounting the filter, but is no more 10!

And further history, colours and a thickness of lines...

Result:





Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/9623

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