Zpattern expert advisor

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I have attached an expert advisor that trades Z patterns as shown in the image.

 

Well come back my friend, we missed you !!!

 

Interesting idea

Thanks for posting that.

It seems quite similar with penant continuation pattern, except that you require a rise before the big drop, am I right?

Also what are the differences between the 2 attached EAs?

 

Price action should just be contained within the converging trend lines of a pennant. In case of Z pattern price breakes and retests the recent support/resistance line. Instead of the user guide I attached a second instance of the EA by mistake. Download it again from the first post.

 

Great, thanks.

Perhaps entry at the retracement will give better results. For a strong move like the image you posted it is rare to go beyond 38% fibo, whereas entry at break is asking for trouble as this market is already very oversold. Still very nice concept.

 

is it work like zigzag？？thanks

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