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Trading Systems: Layman's Notes: ZigZag…

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MetaQuotes Software Corp.
Moderator
182364
MetaQuotes Software Corp. 2008.07.29 08:32 

New article Layman's Notes: ZigZag… has been published:

Surely, a fey thought to trade closely to extremums visited every apprentice trader when he/she saw "enigmatic" polyline for the first time. It's so simple, indeed. Here is the maximum. And there is the minimum. A beautiful picture on the history. And what is in practice? A ray is drawn. It should seem, that is it, the peak! It is time to sell. And now we go down. But hell no! The price is treacherously moving upwards. Haw! It's a trifle, not an indicator. And you throw it out!

Again and again, we come back to the ZigZag indicator after having read some intelligent books about Elliot's wave theory, Fibo levels, Gartley's patterns, etc. An endless circle. An infinite subject to discuss.

The ZigZag indicator is a polyline that consequently joins the peaks and troughs on a price chart. In such a manner, we display the path the price has "followed" with the course of time. This brings up a question now...What are these peaks and troughs?

The article contains the following:
- the description of ZigZag;
- the description of a method to find price models "Peak" and "Trough";
- the definition of potential reverse points;
- the revelation of the indicator's additional features.

Author: Alexei Kharchenko

Gurkan GEZER
12
Gurkan GEZER 2008.07.29 13:20  

Thank you for this great work.

Can you help to me to try this? I get this error message from JOURNAL:

"2008.07.29 14:11:28 2007.01.02 08:00 TF EURUSD,H1: SetIndexBuffer function must be called from custom indicator only"

Tony Manso
5
Tony Manso 2008.07.30 02:09  
ggezer, this is an indicator. It is not an EA. It looks like you're trying to run it as an EA.
MQL4 Comments
16319
MQL4 Comments 2008.08.11 22:14  

Hi Alexei,


Why can't I see your indicator on my chart?



MQL4 Comments
16319
MQL4 Comments 2009.02.19 07:05  

Great indicator, thanks! ps for those using this the first time, it took a minute or so for the fib1 and fib2

to show up during which time the zig zag line disappeared. Be patient!

MQL4 Comments
16319
MQL4 Comments 2009.10.12 23:28  

Very Interesting, I'm trying to build an ea based on zigzag indicator and I show you the result of backtesting from may 2008 till now.

No bad isn't it?

blueeagle
948
blueeagle 2009.11.17 10:09  
grandemario:

Very Interesting, I'm trying to build an ea based on zigzag indicator and I show you the result of backtesting from may 2008 till now.

No bad isn't it?


Can you share your EA?

Ankit Jain
468
Ankit Jain 2012.11.01 09:01  

does it repaints like the normal zig zag??

Ankit Jain
468
Ankit Jain 2012.11.01 09:13  
unable to use it..not adding or showing on graph..
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