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Average OHLC ZigZag

The 'Average OHLC ZigZag' indicator was created as for scalping but you could even use it in day trading.

Similar in comparison to "OHLC Breakz" this also uses only price action. There are no possible options.


Key Features

  • This indicator looks for custom patterns, based on a range of 2 bars, to plot arrows.
  • Repaint is limited to flat markets as this is primarily a trending signal indicator.


Input Parameters

  • ZigZagPos = Averaged OHLC; - ZigZag Position: "Averaged OHLC" or the traditional "Highs & Lows".


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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