Does someone know a zigzag indicator who indicate in the graph the number of points between 2 zigzag (high/low) , as in this picture (on Ninja plateform) (it's to estimate my take profit)
Thanks a lot and have a nice day
Check out this one : https://www.mql5.com/en/forum/172922/page5
There are fw more somilar ones on this thread
Wonderful, it is exactly what I wanted !
What a memory Mladen
Have a nice afternoon
Regression Channel based on Zigzag ?
I'm looking for an indicator who shows automatic regression channel (close or high/low) based on zigzag (with possibility to change the percentage) with an automatic change of LRC only when price close outside the LRC
I find many LRC but noone like this. D you think it exists ?
Linear regression channel is a data fitting algorithm and it can not be applied to zig zag the way you propose simply because there would be a lack of data to properly fit the regression channel (you would have only 2 data points which would give unrealistic deviations for channel bounds)
Some more info on how linear regression is calculated you can find here : Regression analysis - Wikipedia, the free encyclopedia (there is a part that describes linear regression itself at that page)
You have something similar (where starting and ending points are taken from zigzag) : https://www.mql5.com/en/forum/176028 but only as bars numbers (not as zigzag values at those points)
Thanks for the explanations
Have a nice week-end
Try that LRC(2) indicator. Maybe you find it convenient for what you had in mind
Hi everybody, hi Mladen and Mrtools,
Can one of you modify this indicator I use, to indicate the value of the high or low above/below the number of pips (for example 43 pips, 8434 (for dax) )and the number of pips of the highest distance between the open and close of the zigzag (cross in red on my picture), to estimate a target
I hope I'm clear
Thanks a lot and best wishes
The zigzag I'm looking for is similar to one by default in MT4 MT5 in when i color settings and line thickness and also adjusted price representation (graphical representation), but instead of the typical entries ExtDepth , should ExtBackstep ExtDeviation and replaced by the following:
% Price change (% change define all the decimals that are convenient). Sometimes Typical entries would be as follows% chosen for EURUSD: 0.05%, or 0.005% or 0.0005%.
The input indicator 0.005% (for example) should reflect when the price rises has a rise greater than or equal to 0.005%, if still rising, the zigzag should continue to rise as the price. When the price comes back down (from its last maximum) equal to or greater than 0.005% the zigzag should change direction marking down the price up above, and mark a new low after back up 0.005%.
The aim of ZigZag 0.005% to reflect each change graphically equal or greater upwards or downwards. In this way you can eliminate the noise of money considering only price changes in a certain minimum percentage. The strategy is very useful for people, like me, use a strategy based on Fibonacci and Elliott waves.
The Gann zigzag indicator (attached) is the same as Swing ZZ and a number of other zigzag non-repainters. Basically, the Gann Zigzag does not repaint peaks and valleys, but only extend the last leg of the zigzag.
Now here is my question: how can we know the first moment that a new leg has appeared?
Is there an indicator that will mark these moments of zigzag leg creation on the chart? If so, we can put pending order just beyond those levels (this is especially practical on Renko and Range bars where GannZigZag very rarely misses a top or bottom)
Many thanks in advance.