Based on zigzag - works the same as zigzag for signals (repaints)
Delays for alerts are not practical (you actually do not know when did the original condition happen)
As of the rest : the nature of zigzag is such that you can not avoid what you are trying to avoid
if it draws a line above last call candle the next candle should be a put candle 70%
if it draws a lines under a put candle the next candle should be a call candle 70%
why dont you try it?
Zigzag_Pointer_alert EA for GBPUSD M15 with M5 and H1 confirmation - request
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.
- 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
Buy when M5, M15, and H1 all have blue arrows.
Sell when M5, M15, and H1 all have red arrows.
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.
May I know the reason why you are modifying this indicator and what project or goal you are trying to accomplish?
it is possible this indicator in closing prices?
i cant fixed!..
Thank you very much