Specific zigzag

MQL4 Göstergeler

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Dear programmers


I have a new order.

It's a zigzag-type indicator. (MQL4)

I can choose the color of the trendlines and their thickness. Bullish and bearish trendlines have the same color.

I can choose a different color for each time frame.

The zigzag appears individually on each timeframe, I mean there is no overlap of the different timeframes.

I can choose from how many candles in the past the indicator starts,

Obviously, trendlines connect highs to lows, and lows to the next highs.


Here are the rules of th zigzag :


A bullish segment is defined as: a succession (at least one)

of bullish candles (without interruption) followed by a succession (at least one) of bearish candles (without interruption). Be careful because the bearish candles are included in the segment. We then determine the high point of this segment. (It is therefore perfectly possible that this high point is the top of a bearish candle.)


From this high point the next bearish segment begins.


A bearish segment is defined as: a succession (of at least one) of bearish candles (without interruption) followed by a succession (of at least one) of bullish candles (without interruption). Note that bullish candles are included in the segment. We then determine the low point of this segment. (It is therefore entirely possible that this low point is the bottom of a bullish candle.)


Then from this low point begins the next bullish segment, and so on.


Special case: If a candle is neither bearish nor bullish (opening price = closing price) We consider that this candle has the same color as the previous candle.


I attach an illustration.


Thank you.


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