//+------------------------------------------------------------------+ //| ZigZagPointer.mq5 | //| Copyright © 2005, Dr. Gaines | //| dr_richard_gaines@yahoo.com | //+------------------------------------------------------------------+ //| | //| Version: Final, November 01, 2008 | //| Editing: Nikolay Kositsin farria@mail.redcom.ru | //+------------------------------------------------------------------+ /*This variant of the ZigZag indicator is recalculated at each tick only at the bars that were not calculated yet and, therefore, it does not overload CPU at all which is different from the standard indicator. Besides, in this indicator drawing of a line is executed exactly in the ZIGZAG style and, therefore, the indicator correctly and simultaneously displays two of its extreme points (High and Low) at the same bar! //----- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -+ Depth is a minimum number of bars without the second maximum (minimum) which is Deviation pips less (more) than the previous one, i.e. ZigZag always can diverge but it may converge (or dislocate entirely) for the value more than Deviation only after the Depth number of bars. Backstep is a minimum number of bars between maximums (minimums). //----- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -+ Zigzag indicator is a number of trendlines that unite considerable tops and bottoms on a price chart. The parameter concerning the minimum prices changes determines the per cent value where the price must move to generate a new "Zig" or "Zag" line. This indicator filters the changes on an analyzed chart that are less than the set value. Therefore, Zigzag reflects only considerable amedments. Zigzag is used mainly for the simplified visualization of charts, as it shows only the most important changes and reverses. Also, it can be used to reveal the Elliott Waves and different chart figures. It is necessary to remember that the last indicator segment can change depending on the changes of the analyzed data. It is one of the few indicators that can change their previous value, in case of an asset price change. Such an ability to correct its values according to the further price changings makes Zigzag an excellent tool for the already formed price changes. Therefore, there is no point in creating a trading system based on Zigzag as it is most suitable for the analysis of historical data not forecasting. Copyright © 2005, MetaQuotes Software Corp. */ //+------------------------------------------------------------------+ //--- copyright #property copyright "Copyright © 2005, Dr. Gaines" //--- a link to the website of the author #property link "dr_richard_gaines@yahoo.com" //--- indicator version #property version "1.01" #property description "Zigzag interpretation" //--- drawing the indicator in the main window #property indicator_chart_window //--- two buffers are used for the indicator calculation and drawing #property indicator_buffers 2 //--- two plots are used #property indicator_plots 2 //+----------------------------------------------+ //| Lower indicator drawing parameters | //+----------------------------------------------+ //--- drawing the indicator 1 as a symbol #property indicator_type1 DRAW_ARROW //--- lime color is used for the indicator #property indicator_color1 clrLime //--- indicator 1 line width is equal to 4 #property indicator_width1 4 //--- displaying the indicator label #property indicator_label1 "ZigZagPointer Lower" //+----------------------------------------------+ //| Upper indicator drawing parameters | //+----------------------------------------------+ //--- drawing the indicator 2 as a symbol #property indicator_type2 DRAW_ARROW //--- magenta color is used for the indicator #property indicator_color2 clrMagenta //---- indicator 2 line width is equal to 4 #property indicator_width2 4 //--- displaying the indicator label #property indicator_label2 "ZigZagPointer Upper" //+----------------------------------------------+ //| declaring constants | //+----------------------------------------------+ #define RESET 0 // A constant for returning the indicator recalculation command to the terminal //+----------------------------------------------+ //| Indicator input parameters | //+----------------------------------------------+ input uint ExtDepth=12; input uint ExtDeviation=5; input uint ExtBackstep =3; //+----------------------------------------------+ //--- declaration of dynamic arrays that will be used as indicator buffers double HighestBuffer[]; double LowestBuffer[]; //--- declaration of variables int LASTlowpos,LASThighpos; double LASTlow0,LASTlow1,LASThigh0,LASThigh1,dExtDeviation; //--- declaration of integer variables of data starting point int min_rates_total; //+------------------------------------------------------------------+ //| Custom indicator initialization function | //+------------------------------------------------------------------+ int OnInit() { //--- initialization of variables of the start of data calculation min_rates_total=int(ExtDepth+ExtBackstep); dExtDeviation=ExtDeviation*_Point; //--- set dynamic arrays as indicator buffers SetIndexBuffer(0,LowestBuffer,INDICATOR_DATA); SetIndexBuffer(1,HighestBuffer,INDICATOR_DATA); //--- restriction to draw empty values for the indicator PlotIndexSetDouble(0,PLOT_EMPTY_VALUE,0.0); PlotIndexSetDouble(1,PLOT_EMPTY_VALUE,0.0); //---- Indexing buffer elements as timeseries ArraySetAsSeries(LowestBuffer,true); ArraySetAsSeries(HighestBuffer,true); //--- set the position, from which the Bollinger Bands drawing starts PlotIndexSetInteger(0,PLOT_DRAW_BEGIN,min_rates_total); PlotIndexSetInteger(1,PLOT_DRAW_BEGIN,min_rates_total); //--- setting the format of accuracy of displaying the indicator IndicatorSetInteger(INDICATOR_DIGITS,_Digits); //--- name for the data window and the label for sub-windows string shortname; StringConcatenate(shortname,"ZigZagPointer(ExtDepth=",ExtDepth, "ExtDeviation = ",ExtDeviation,"ExtBackstep = ",ExtBackstep,")"); IndicatorSetString(INDICATOR_SHORTNAME,shortname); //--- initialization end return(INIT_SUCCEEDED); } //+------------------------------------------------------------------+ //| Custom indicator iteration function | //+------------------------------------------------------------------+ int OnCalculate(const int rates_total, const int prev_calculated, const datetime &time[], const double &open[], const double &high[], const double &low[], const double &close[], const long &tick_volume[], const long &volume[], const int &spread[]) { //--- checking if the number of bars is enough for the calculation if(rates_totalrates_total || prev_calculated<=0)// checking for the first start of calculation of an indicator { limit=rates_total-min_rates_total; // starting index for the calculation of all bars lastlow1=-1; lasthigh1=-1; lastlowpos=-1; lasthighpos=-1; } else { limit=rates_total-prev_calculated; // starting index for the calculation of new bars //--- restore values of the variables lastlow0=LASTlow0; lasthigh0=LASThigh0; lastlow1=LASTlow1; lasthigh1=LASThigh1; lastlowpos=LASTlowpos+limit; lasthighpos=LASThighpos+limit; } //--- apply timeseries indexing to array elements ArraySetAsSeries(high,true); ArraySetAsSeries(low,true); //--- the first large indicator calculation loop for(bar=limit; bar>=0 && !IsStopped(); bar--) { //--- save values of the variables before running at the current bar if(rates_total!=prev_calculated && bar==0) { LASTlow0=lastlow0; LASThigh0=lasthigh0; } //--- low val=low[ArrayMinimum(low,bar,ExtDepth)]; if(val==lastlow0) val=0.0; else { lastlow0=val; if(low[bar]-val>ExtDeviation*_Point) val=0.0; else { for(back=1; back<=int(ExtBackstep); back++) { res=LowestBuffer[bar+back]; if(res && res>val) LowestBuffer[bar+back]=0.0; } } } LowestBuffer[bar]=val; //--- high val=high[ArrayMaximum(high,bar,ExtDepth)]; if(val==lasthigh0) val=0.0; else { lasthigh0=val; if(val-high[bar]>ExtDeviation*_Point) val=0.0; else { for(back=1; back<=int(ExtBackstep); back++) { res=HighestBuffer[bar+back]; if(res && res=0; bar--) { //--- save values of the variables before running at the current bar if(rates_total!=prev_calculated && !bar) { LASTlow1=lastlow1; LASThigh1=lasthigh1; LASTlowpos=lastlowpos; LASThighpos=lasthighpos; } //--- curlow=LowestBuffer[bar]; curhigh=HighestBuffer[bar]; //--- if(!curlow && !curhigh) continue; //--- if(curhigh!=0) { if(lasthigh1>0) { if(lasthigh10) { if(lastlow1>curlow) LowestBuffer[lastlowpos]=0; else LowestBuffer[bar]=0; } //--- if(curlow