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Advanced ZigZag with Fibo TL and Swing info

3

Description

The base of this indicator is an ZigZag algorithm based on ATR and Fibo retracement. The ZigZag can be drawn like a classic ZigZag or like Arrows or needn't be drawn at all. This indicator is not redrawing in sense that the ZigZag's last shoulder is formed right after the appropriate conditions occur on the market. The shoulder doesn't change its direction afterwards (can only continue). There are some other possibilities to show advanced information in this indicator:

  • Auto Fibo on the last and/or previous swing
  • Trend lines (0-3 pairs) which connect swing highs / swing lows
  • Information about swing size in points and bars and swing "slope" above high swings/under low swings
  • Level where the ZigZag will turn a direction
  • Levels (price labels) where the ZigZag began a new direction. Note: They can't be drawn backwards and they can appear only if a new direction change happens. If backward analysis is needed a visual tester supposed to be used.

The indicator can alert on a ZigZag direction change (trend change) by notification, e-mail, alert and sound playing.


Indicator input parameters

For the ZigZag visualization these three inputs are crucial. They allow to change the sensitivity of the ZigZag.

  1. ATR multiplier that doesn't allow a direction change
  2. ATR multiplier that forces a direction change
  3. Minimum percent retracement that forces a direction change


Note: MQL4 indicator is also available.

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**   All Symbols   x   All Timeframes   scan just by pressing scanner button ** *** Contact me  to send you instruction and add you in "Trend Reversal group" for sharing or seeing experiences with other users. Introduction: Trendlines are the most famous technical analysis in trading . Trendlines continually form on the charts of markets across all the different timeframes providing huge opportunities for traders to jump in and profit on the action. In the other hand,  The trendline reversal str
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Description The base of this indicator is an ZigZag algorithm based on ATR and Fibo retracement. This indicator is not redrawing in sense that the ZigZag's last shoulder is formed right after the appropriate conditions occur on the market. The shoulder doesn't change its direction afterwards (can only continue). Note:  An indicator with advanced possibilities is also available. Indicator input parameters The input parameters allow to change the sensitivity of the ZigZag. ATR period ATR mul
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Petr Nosek
Utilities
The script writes to a text file all-important trading information about the chart symbol including symbol leverage, point value, required margin, swaps, trade and quote sessions and so on. Most traders need this information for their trading decisions. For example for stop loss placement, for volume calculating, for trades closing before session end... You can see a text file example on the screenshot.
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faithdefender
1736
faithdefender 2021.11.13 21:51 
 

This indicator does draw a few straight lines, but very limited. On occasion the monthly is not seen even though it has two touches. Another observation is if you apply it to the 15M chart on Stock assets, the fib lines are all squished together and not clear. And the green and red numbers are bunched up and unreadable. (It does not say it is only for Forex alone). I think the indicator had good intentions and I give it a 3.5, but would be better priced at around 30 bucks. I purchased it for the trendlines, but will keep looking.

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