Create ZigZag EA and filters?

[Daniel Sastraamidjaja]

Hello, my name is Daniel and I am still a newbie in this forum.

I want to learn how to create an EA using ZigZag as main indicator and few filters to filter out false signal.

So, I read this thread : https://www.mql5.com/en/forum/144092/page2#854926

After I read that thread, I have few question in my mind:

1. How to enter the market using High/low in the market using ZigZag mentioned at that thread? What's the algorithm? Because it would just take 5 values (P1,P2,P3,P4, and P5).
2. What filter would be best used to filter out false signal?
   
3. If using Fibonacci like mentioned, how to use it in code?

Any help would be really appreciated. I would later upload the code for sharing here :)

[andrew4789]

Hi Daniel. Congrats for using ZigZag. 

Just my thoughts on ZZ. I've learned not to complicate things, so for ZigZag I trade purely on the price.

Trade on a change in ZigZag (on next bar) on H1 with ZZ depth of 50; set tight SLs and don't take profit until next change in ZZ. After SL or TP, delay next trade for 60 minutes.For me, that was tricky enough to code without throwing in all sorts of variables or filters! 

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[William Roeder]

ZZ is a repainting indicator. It shows where you should have reversed but after the fact. Useless for trading.