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Zigzag indicators - page 27

daiwa
142
daiwa  
Shalom
19
Shalom  

Zigzag_Pointer_alert EA for GBPUSD M15 with M5 and H1 confirmation - request

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Zigzag_Pointer_alert EA

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Hi everyone. Sorry if I posted on the wrong thread. I can't find a direct thread for my request.

To anyone out there who is good with mt4 coding. Could you please write an EA using this strategy. I can't prove that it's profitable but I have been analyzing the GBPUSD M5, M15, and H1 charts and the indicators seem logical for all three timeframes.

Here we go.

Primary indicator:

- Zigzag_Pointer_alert.mq4

Settings:

- ExtDepth = 15

- ExtDeviation = 2

- ExtBackstep = 15

The Zigzag_Pointer_alert indicator repaints. It gives a blue arrow to indicate a possible buy signal and a red arrow for a possible sell signal.

M15 - main signal

M5 and H1 - confirmation signals

Entry:

Buy when M5, M15, and H1 all have blue arrows.

Sell when M5, M15, and H1 all have red arrows.

Exit:

Close positions when opposite signal is confirmed (when M5, M15, and H1 is confirmed to give an opposite direction).

I have selected GBPUSD M15 because of the volatility but I believe this strategy could work with other pairs as well.

As of this writing, I am testing this strategy on IBFX demo. Opened a buy position today (01/21; 3:02am GMT). So far, it's averaging 15 pips. I intend to close the position once I get a confirmed sell signal from M5, M15, and H1.

I have attached the ZigZag_Pointer_alert.mq4. I believe this strategy has some potential. Thanks a lot and more pips to you.

funman

Bobkat
4
Bobkat  
funman:
=======================

Zigzag_Pointer_alert EA

=======================

Hi everyone. Sorry if I posted on the wrong thread. I can't find a direct thread for my request.

To anyone out there who is good with mt4 coding. Could you please write an EA using this strategy. I can't prove that it's profitable but I have been analyzing the GBPUSD M5, M15, and H1 charts and the indicators seem logical for all three timeframes.

Here we go.

Primary indicator:

- Zigzag_Pointer_alert.mq4

Settings:

- ExtDepth = 15

- ExtDeviation = 2

- ExtBackstep = 15

The Zigzag_Pointer_alert indicator repaints. It gives a blue arrow to indicate a possible buy signal and a red arrow for a possible sell signal.

M15 - main signal

M5 and H1 - confirmation signals

Entry:

Buy when M5, M15, and H1 all have blue arrows.

Sell when M5, M15, and H1 all have red arrows.

Exit:

Close positions when opposite signal is confirmed (when M5, M15, and H1 is confirmed to give an opposite direction).

I have selected GBPUSD M15 because of the volatility but I believe this strategy could work with other pairs as well.

As of this writing, I am testing this strategy on IBFX demo. Opened a buy position today (01/21; 3:02am GMT). So far, it's averaging 15 pips. I intend to close the position once I get a confirmed sell signal from M5, M15, and H1.

I have attached the ZigZag_Pointer_alert.mq4. I believe this strategy has some potential. Thanks a lot and more pips to you.

funman

Hi funman,

Just wondering what sort of success you are achieving with this setup. High % of wins? What is the average win in pips, and the average loss in pips?

Many thanks for sharing!

BC

Shalom
19
Shalom  

Change of strategy

I think it is better to use this strategy as a scalper for 10 or 20 pips per trade. The fact that the arrow repaints even with confirmation from other time frames does not guarantee a reasonable amount of profit upon exit (close on opposite signal). The previous trade that I had went up to 36 pips high only to find out that upon exit (close on opposite signal) that I only got 8 pips. Perhaps testing it with a secondary non-repainting indicator such as "silvertrend_signal" would help.

Any of you guys have a similar or even better idea?

ferit
18
ferit  

Does an zigzag indi with no repainting exist? If yes, where can I find?

Thank you.

demam_emas
251
demam_emas  
ferit:
Does an zigzag indi with no repainting exist? If yes, where can I find? Thank you.

I am 100% sure that it does not exist.

kingofsofia
58
kingofsofia  

Well, there is the zig zag pointer which shows arrows when it gives signal, and it does not repaint them, they just stay there, and show how awful the indicator would be if you use it stand alone for entry and exit. I do not of what help a non-repainting zig zag would be for you.

Michael
237
Michael  

try this one ZigZag_Pointer_alert_only at turning points

I am still testing this indicator with others.

since this indicator alert only at turning point maybe not reprint!

but...

Darriusk
3
Darriusk  
Todd:
Does anyone know of a zig zag indicator that will display the moves between points in pips?

I also need the same indicator, but with alert in case pip value (extern variable) is exceeded.

Anybody can help ?

peterke
54
peterke  

it repaints as well

This one repaints as well. The only Zig Zag that doesn't repaint is the one that accurately predicts the future - might be a long time looking for that one

rgds

Peter

mtuppers:
try this one ZigZag_Pointer_alert_only at turning points

I am still testing this indicator with others.

since this indicator alert only at turning point maybe not reprint!

but...