a great profitable strategy but needs work

[omgfprg]

hello everyone that reads this. i must apologize about my bad English, as it is not my first language.

I was looking at a chart with a zigzag indicator and I looked at the W and M patters and there is a very profitable strategy using them if you use it right. I will try show you my strategy.

if you look at the zigzag it makes a clear W shape(in the center of the image)

so lets imagine the first two lines look confirmed and the price has dropped below the end of the first leg of the W you put a pending order on the middle leg of the W so the retracement of the first leg then once the third line is confirmed the trade is placed with a take profit of half the length in pips as the first leg

i'm sorry if this doesn't explain it much, this is for a buy call and the sell is exactly the opposite.

but please remember for a W the second drop(the third leg) must be lower than the first leg and the same goes for a M shape but the third leg must be higher than the first.

stop loss is the full length of the first leg

please ask questions as i wrote this very fast because i don't have much time but i will respond to questions if asked.

please try build this strategy to perfect it more. it would help us all out

[omgfprg]

i have found it works best on the 15minute timeframe(for more frequent trades) and it works on all major pairs

[Marco vd Heijden]

Yes the WORM ZigZag Technique.

[omgfprg]

Marco vd Heijden:
Yes the WORM ZigZag Technique.

do you know if its even possible to make an EA off this? or is there already one?

[Marco vd Heijden]

There are hundreds, if not thousands.

https://www.mql5.com/en/search#!keyword=zigzag&module=mql5_module_codebase

Try the search function..

No need to re-invent the wheel...

[omgfprg]

Marco vd Heijden:

There are hundreds, if not thousands.

https://www.mql5.com/en/search#!keyword=zigzag&module=mql5_module_codebase

Try the search function..

No need to re-invent the wheel...

maybe i haven't looked hard enough but i haven't been able to find anything like this as an ea

[Marco vd Heijden]

So you looked through 19 pages already...

Fast.

The idea is to use any of those and adapt them to your personal needs.