• Overview
  • Reviews (3)
  • Comments (5)

ZigZag based on ATR and Fibo retracement MQL4

4.67

Description

The base of this indicator is an ZigZag algorithm based on ATR and Fibo retracement. This indicator is not redrawing in sense that the ZigZag's last shoulder is formed right after the appropriate conditions occur on the market. The shoulder doesn't change its direction afterwards (can only continue).

Note: An indicator with advanced possibilities is also available.

Indicator input parameters

The input parameters allow to change the sensitivity of the ZigZag.

  1. ATR period
  2. ATR multiplier that doesn't allow a direction change
  3. ATR multiplier that forces a direction change
  4. Minimum percent retracement that forces a direction change

Note: MQL5 indicator is also available.

Reviews 3
MAKARIOS YACOUBIAN
2891
MAKARIOS YACOUBIAN 2021.08.12 17:36 
 

Great job . Thanks

COLIN BREEN
2500
COLIN BREEN 2020.05.15 11:02 
 

Does what I need for my trading and works better than the buit in ZigZag indicator on MT4

nivlem44
199
nivlem44 2022.11.30 07:24 
 

good zig zag does not repaint

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Description The base of this indicator is an ZigZag algorithm based on ATR and Fibo retracement. The ZigZag can be drawn like a classic ZigZag or like Arrows or needn't be drawn at all. This indicator is not redrawing in sense that the ZigZag's last shoulder is formed right after the appropriate conditions occur on the market. The shoulder doesn't change its direction afterwards (can only continue). There are some other possibilities to show advanced information in this indicator: Auto Fibo on
The script writes to a text file all-important trading information about the chart symbol including symbol leverage, point value, required margin, swaps, trade and quote sessions and so on. Most traders need this information for their trading decisions. For example for stop loss placement, for volume calculating, for trades closing before session end... You can see a text file example on the screenshot.
Description The base of this indicator is an ZigZag algorithm based on ATR and Fibo retracement. The ZigZag can be drawn like a classic ZigZag or like Arrows or needn't be drawn at all. This indicator is not redrawing in sense that the ZigZag's last shoulder is formed right after the appropriate conditions occur on the market. The shoulder doesn't change its direction afterwards (can only continue). There are some other possibilities to show advanced information in this indicator: Auto Fibo on
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nivlem44
199
nivlem44 2022.11.30 07:24 
 

good zig zag does not repaint

MAKARIOS YACOUBIAN
2891
MAKARIOS YACOUBIAN 2021.08.12 17:36 
 

Great job . Thanks

COLIN BREEN
2500
COLIN BREEN 2020.05.15 11:02 
 

Does what I need for my trading and works better than the buit in ZigZag indicator on MT4

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