An indicator based on ZigZag and 2 trendlines with alerts

MQL4 Indicators

Specification

Hello, 

I would like an indicator on timeframe 1H based on zigzag and 2 trenlines.

The main function is to draw trendlines between the last 2 high points and last 2 low points of the zig zag that has next characteristic (Depth 5, Deviation 1, Backstep 3). It should keep drawing on the last 2 high/low points. When the second (2nd) complete candle crosses a trendline on time frame M5 it should alert to buy or sell.

PS : The trendlines should not be redraw when timeframes are changed. They should be fixed on H1


There are also wierd situations like the in the image 3 and 4, but price would go down eventually. Don't know if i got lucky or not. Looks like a double top.


Files:

JPG
H1.jpg
79.3 Kb
JPG
M5.jpg
87.4 Kb
JPG
H1_-_2.jpg
90.8 Kb
JPG
M5_-_2.jpg
103.1 Kb

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