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ZigZag and Fractals MT4

ZigZag_FT is a combination of two good indicators.

The first one is ZigZag with adjustable wave height (found it in Code Base). The second on is Bill Williams' fractals.

These indicators complement each other. ZigZag is used for detecting Elliott waves, and Fractals show the structure of each wave.

The height of ZigZags can be (and it should be) adjusted depending on the timeframe the indicator is used with.

Fitted values of "Minimum points in a ray" parameter for different timeframes are listed below:

Timeframe Minimum poins in a ray
M15 21, or 210 for 5-digit quotes
M30 34, or 340 for 5-digit quotes
H1 55, or 550 for 5-digit quotes
H4  89, or 890 for 5-digit quotes 

If you don't like them, you can experiment with other values. But note that with the selected values the ZigZag waves on the chart must match the corresponding Elliott cycles. So you could see them. And the fractals will show the structure of each wave (you can count subwaves it consists of).

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Vadim Strelkov
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Vadim Strelkov 2014.05.06 15:18 
 

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Maksym Mudrakov
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Maksym Mudrakov 2016.08.30 19:42 
 

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Gennadiy Voltornist
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Gennadiy Voltornist 2017.10.28 19:57 
 

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