Channels ZigZag build the current channel (BC1 and BC2 lines) by three ZigZag indicator points. Then, it builds Mid_Channel in the middle of the channel, as well as the lines above (_UP) and below (_DW) the ВС lines at a distance multiple of the channel width - 25, 50, 100, 150, and 200 percent.
Thus, the program builds 5 channels for three points of ZigZag indicator - the main one, as well as two lines above and two lines below going parallel to it.
Each line consists of two trend lines in the form of divergent rays. For example, BC1_H4_1 and BC1_H4_1_, the difference is in the last sign "_". The total amount of lines for three ZigZag points is 15:
The current period name and the channel serial number are applied to the name of each line. The amount of channels are set in the EA settings (the default values are NumbС1=1 and NumbС2=2):
- NumbС1 - ZigZag index, from which construction starts;
- NumbС2 - index, at which construction stops (you can trace the channels NumbС1 ZigZags back).
The program automatically calculates the amount of ZZ reversal points where the lines touch the vertices of ZigZag having the ExDp2 input parameter. Amount of touch points is specified in the line description.
The greater the amount of points, the higher the line value. The significance of the line is also reflected in its description (the highest importance is equal to one - red line). If the amount of ZZ is equal to zero, the program does not draw the beams in order not to clutter up the chart.
- NumbС1 - ZigZag index, from which the channel construction starts. A suitable value is 1;
- NumbС2 - ZigZag index, at which the channel construction stops. Suitable values are from 2 to 10;
- Depth ZigZag - depth. A suitable value is 16;
- Deviation ZigZag - deviation. A suitable value is 6;
- Backstep ZigZag - minimum number of bars between maximums/minimums. A suitable value is 3;
- Visible_near_timeframes - display on various timeframes;
- Del_line_change_time - delete lines when changing timeframes or deleting Channels_Zig from a chart. false is recommended.