Zigzag_Pointer_alert EA for GBPUSD M15 with M5 and H1 confirmation - request
=======================
Zigzag_Pointer_alert EA
=======================
To anyone out there who is good at mt4 coding. Could you please write an EA using this strategy. I can't prove that it's profitable but I have been analyzing the GBPUSD M5, M15, and H1 charts and the indicators seem logical for all three timeframes.
Here we go.
Primary indicator:
- Zigzag_Pointer_alert.mq4
Settings:
- ExtDepth = 15
- ExtDeviation = 2
- ExtBackstep = 15
The Zigzag_Pointer_alert indicator repaints. It gives a blue arrow to indicate a possible buy signal and a red arrow for a possible sell signal.
M15 - main signal
M5 and H1 - confirmation signals
Entry:
Buy when M5, M15, and H1 all have blue arrows.
Sell when M5, M15, and H1 all have red arrows.
Exit:
Close positions when opposite signal is confirmed (when M5, M15, and H1 is confirmed to give an opposite direction).
I have selected GBPUSD M15 because of the volatility but I believe this strategy could work with other pairs as well.
As of this writing, I am testing this strategy on IBFX demo. Opened a buy position today (01/21; 3:02am GMT). So far, it's averaging 20 pips. I intend to close the position once I get a confirmed sell signal from M5, M15, and H1.
I have attached the ZigZag_Pointer_alert.mq4. I believe this strategy has some potential. Thanks a lot and more pips to you. :)
funman
FunMan - Did you ever get a response to your inquiry regarding help with an EA using this zigzag indicator? Interesting since the reason that I saw your posting was that I was looking for information on the exact same indicator to implement into an EA. Thru trail and error I have found a way to get the down/Sell arrow data from the indicator into an EA. I have already writen into an EA (which is working well with other criterea requirements prior to entry) and I have confirmed the SELL points. The problem is that after hours trying to figure out the up/Buy arrow point, I have still been unable to get that value to put into my EA. Without the Buy arrow, the EA is of no value since it will enter a SELL, but will never close without the BUY signal. Also with only the SELL arrow data my EA will only open short positions. So it is a double whammy without the BUY signal. No opening of long positions and no closing of short positions.
Please get back to me (or anyone else who can help) if you can tell me how to get the long signal value from the zigzag indicator to be referenced in an EA. Please note that my MQL4 programming skills are not good and I depend on Forex Generator to write the EA after I enter the criteria that I want in the EA. I saw posts guiding people to use the iCustom feature and at my skill level I have not used the iCustom suggestion. All I need is what value to reference in my EA to get the long/up/buy signal value. Thanks in advance to anyone who can assist.
You are not likely to get a reply to a thread that is over 2 years old . . .
Have a read here instead: https://www.mql5.com/en/forum/131897 and here https://www.mql5.com/en/forum/138577
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Zigzag_Pointer_alert EA
=======================
To anyone out there who is good at mt4 coding. Could you please write an EA using this strategy. I can't prove that it's profitable but I have been analyzing the GBPUSD M5, M15, and H1 charts and the indicators seem logical for all three timeframes.
Here we go.
Primary indicator:
- Zigzag_Pointer_alert.mq4
Settings:
- ExtDepth = 15
- ExtDeviation = 2
- ExtBackstep = 15
The Zigzag_Pointer_alert indicator repaints. It gives a blue arrow to indicate a possible buy signal and a red arrow for a possible sell signal.
M15 - main signal
M5 and H1 - confirmation signals
Entry:
Buy when M5, M15, and H1 all have blue arrows.
Sell when M5, M15, and H1 all have red arrows.
Exit:
Close positions when opposite signal is confirmed (when M5, M15, and H1 is confirmed to give an opposite direction).
I have selected GBPUSD M15 because of the volatility but I believe this strategy could work with other pairs as well.
As of this writing, I am testing this strategy on IBFX demo. Opened a buy position today (01/21; 3:02am GMT). So far, it's averaging 20 pips. I intend to close the position once I get a confirmed sell signal from M5, M15, and H1.
I have attached the ZigZag_Pointer_alert.mq4. I believe this strategy has some potential. Thanks a lot and more pips to you. :)
funman