ZigZagFibo
- Indicators
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Yu Hong Chen
多年经验，汇集成EA，欢迎探讨与交流 - Version: 1.12
- Activations: 20
Based on commonly used ZigZag indicators, in-depth mining was conducted on the indicators, with two main improvements:
1、 Annotate each ZZ price point; Annotate the distance points between adjacent ZZ points for a more convenient and intuitive view of price fluctuations.
2、 Draw a Fibonacci line for the current price direction of ZZ. The Fibonacci line includes two types: the Fibonacci retracement level and the Fibonacci expansion level. When the last four ZZ points comply with Dow's 123 rule, draw a horizontal line for the expansion of the Fibonacci wave. If it does not comply with the 123 rule, draw a Fibonacci callback. The Fibonacci line provides a very good reference for the specific profit points.
3、 In the parameter settings, the price and distance of the annotation can be adjusted for text size and color settings, allowing for better differentiation between two different sets of values based on color.
4、 The color of ZigZag line can be set.
Switching between different time periods will result in different ZZ lines. The principle usually followed in trading is to follow the direction of the major cycle, engage in opportunistic trading, and enter the market at the turning point of the minor cycle. This is the wisest and easiest way to make money.
