ZigZag and Ehler’s Fisher Transform Expert Advisor for MT5

 1. Entry and Exit- Ehlers Fisher Transform Indicator

Use Change of Color of Ehlers Fisher Transform for entry and exit of both buy and sell orders.

Buy Entry- When color changes from Red to Lime. Exit when color changes from Lime to Red and vice versa for sell orders.

 2. Stop Loss- ZigZag Color indicator

(a)   If the indicator forms a new blue line, a new peak high is formed. A new red line indicates a new peak low (also known as high or low extremums). For Buy orders, stop loss should be a few points below the most recent/current peak low that is provided by the indicator and vice versa for sell orders. I should be able to adjust the number of stop loss points below the peak low or peak high via the input tab.

(b)   Let us say there was a peak high that was formed by the ZigZag Color indicator and Ehler’s Fisher Transform gave us a sell entry. If during this sell order a new peak low is formed by the ZigZag Color indicator, move the stop loss to breakeven (This should incorporate any broker charges on the order such as commissions, spread or swap) and vice versa for buy orders.

  3. If the most recent/current peak from the Zigzag Color indicator was/is a peak high, and Ehler’s Fisher Transform indicator gives a buy entry instead of a sell entry, ignore the buy entry and vice versa for sell entries. However, I should be able to turn this feature on and off via the input tab.

I will send the .mql5 of the indicators once I get a developer.  I expect .mql5 (with some comments if possible) and .ex5 files back.