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Average OHLC ZigZag

The 'Average OHLC ZigZag' indicator was designed for entry confirmations as well as scalping with a larger trend.

A custom formula to average the last two bars to generate arrows following market trends with bar 1 confirmation.


Key Features

  • An extreme scalper calculating the averages between the last two market periods to generate a buy or sell arrow.
  • No settings are available due to it's simplicity of custom price action pattern and using repainting four OHLC prices. 


Input Parameters

  • ZigZagPos = Averaged OHLC; - ZigZag Position: "Averaged OHLC", "Highs & Lows" or "None".


Integration

  • This indicator produces prices of the zigzag and of the arrows which can be compared with it's adjacent buffer.
  • There must be a value on one buffer and not the other, represented by a value of EMPTY_VALUE.


Improvements

  • Please be sure to leave any ideas, tips and suggestions in the "Reviews" section and they may be included.
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4.67 (9)
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up-down indicator is no repaint and works all pairs and lower than weekly time frames charts. it is suitable also 1 m charts for all pairs. and hold long way to signal. dont gives too many signals. when red histogram cross trigger line that is up signal.and price probably will down when blue histogram cross trigger line that is down signal.and price probably will go up. when the signals not seen press + button on terminal . too see weekly chart because of low data on chart ,it needs to lower p
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Version 3.0 2023.09.24
Theme Colorization Changes
Input Parameters Changes
Version 2.0 2023.01.19
Upgrades for visibility as well as performance