• Overview
  • Reviews (3)
  • Comments (5)

ZigZag based on ATR and Fibo retracement MQL4

4.67

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.

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

Note: MQL5 indicator is also available.

Reviews 3
MAKARIOS YACOUBIAN
2901
MAKARIOS YACOUBIAN 2021.08.12 17:36 
 

Great job . Thanks

COLIN BREEN
2547
COLIN BREEN 2020.05.15 11:02 
 

Does what I need for my trading and works better than the buit in ZigZag indicator on MT4

nivlem44
199
nivlem44 2022.11.30 07:24 
 

good zig zag does not repaint

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nivlem44
199
nivlem44 2022.11.30 07:24 
 

good zig zag does not repaint

MAKARIOS YACOUBIAN
2901
MAKARIOS YACOUBIAN 2021.08.12 17:36 
 

Great job . Thanks

COLIN BREEN
2547
COLIN BREEN 2020.05.15 11:02 
 

Does what I need for my trading and works better than the buit in ZigZag indicator on MT4

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