Auto Zig HTF Vwap Midas
- Indicators
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Ricardo Almeida Branco
I started following the Brazilian stock exchange in 2018, in a demo account, and I found the amount of setups used interesting. Taking learning and even the demo seriously, I understood that I should start programming to validate / discard setups. - Version: 1.2
- Updated: 22 May 2022
- Activations: 5
The indicator has been optimized not to recalculate (improving performance) and has several visual settings for you to adapt in your own way.
| TRY IT FOR FREE by clicking the free demo button |
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Where and why to use
Vwap Midas (and Auto Zig Vwap Midas) can be used on a variety of indices, currencies, forex, cryptocurrencies, stocks, indices and commodities.
Many successful traders use price and volume to get their results. Others use the concept of waves as in the Theory of Down or Eliott's Waves or even Wyckoff who analyzes market cycles.
Vwap Custom (Midas) shows the average price of large investors as it is a volume weighted average. Combined with Zig Zag we will have automatic plotting on the last tops or bottoms.
Getting the exact timing of the reversal is tricky, but catching the pullback (bullish or bearish) gives many opportunities where the stop is short (as it is close to the extreme) and the profit can be big. The Auto Zig Midas indicator will help you to find these moments on the chart, whether through the Vwap Midas or the tops formed by the ZigZag indicator. The stop and take markings will be well defined, and after evaluating the risk return you can decide to enter the trade.
Use in Expert Advisors
Using it in Expert Advisors is simple as it is enough to read the vwap and zigzag top/bottom buffers. I will leave an image below where you can easily identify.
Unique (and TOP) functionality
The Vwap Midas plot and top and bottom markings do not only rely on the last confirmed top/bottom. I added the possibility to choose the highest of the 3 tops and the lowest of the 3 most recent bottoms in the indicator. So, if you want to plot more than one indicator on the screen, you can monitor the most relevant tops of the moment.
Multi Timeframe (MTF - HTF)
The reading of the ZigZag indicator can happen on a Timeframe larger than the Timeframe of the chart. I like to use Midas at 1 minute, but I might want to read the tops and bottoms on a longer timeframe.
Finishing
Question: How is it possible to have so much functionality in a single indicator?
Answer: This is another indicator that comes up after talking to trades that were already operating like this consistently. The creation of the indicator is to help real traders make their trades easier.
Tips:
1) By changing the Zig Zag parameters you will be able to see movements of greater amplitude and relevance.
2) Whenever you have any doubts as to why the indicator has not plotted something, check the expert tab. The expert tab is my way of communicating to you what happened.
Oops:
When working with HTF (upper time frame) or MTF (multiple time frames) in metatrader 5 indicators we may encounter certain difficulties because the price series called by the indicator has not yet been delivered by mt5. Even more so with the auction closed.
I got around these difficulties, but I can't, for example, plot the zig zag of the top time frame on the screen.
If, with the trading session closed, the line does not plot, it is also because of this. By right clicking on the chart and then clicking refresh, mt5 displays the data it was unable to display previously.
Settings:
■ ■ Midas ■ ■
| Volume type | tick or real volume |
| Price plot type | High & Low, Inverted High & Low, Median price, ... |
| Show Midas Top | |
| Show Midas Botton | true or false |
▲ ▼ ZigZag ▼ ▲
Backstep| Depht | It's up to you |
| Deviation | It's up to you |
| Backstep | It's up to you |
| Show ZZ (Current TF) | if you have it on the current timeframe you can choose to see the zigzag on the screen |
| ► ► Timeframe Zig Zag | Here you choose the zigzag timeframe, which will determine the Vwap Midas anchor location and the top or bottom location |
| ► ► Number of top/bottom | First, major/minor of the first two or major/minor of the first three? |
| Show top and bottom | true or false |
■ ■ Visual ■ ■
| Color top | Color of your choice to mark the top and top Vwap Midas |
| Color botton | Color of your choice to mark the top and botton Vwap Midas |
| Width line | It's up to you |
| Style line | It's up to you |
Sucess and good trades!
And others!
Ótimo indicador.