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It's the modified zigzag from Dr. Richard Gaines (which is public code btw) but with added code to leave a shadow copy of the pointer behind as it keeps making higher highs and lower lows
I tried to make a search (on the top right corner of every forum page) -
.. and found one old thread. The discussion the users with Mladen (the great coder) about zigzag by Dr. Richard Gaines is going on this page https://www.mql5.com/en/forum/180648/page1264 and next page (and some indicator was uploaded by source code).
One post of the thread as example -
Forum on trading, automated trading systems and testing trading strategies
Mladen Rakic, 2015.12.05 21:26
ruckser
That is a simple zigzag renamed, See the comparison - arrows are the ":reversal", and as you can see they are exactly the same as the zigzag that uses the same parameters (I wonders what kind of a Dr "Dr Richard Gaines" is when he does the oldest game in the town)

- 2015.12.05
- winants isabelle
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