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FZR Fractal Zigzag Reversal mql5

5

FZR indicator determines fractal zigzag reversal pattern of all the time frames of the chosen symbol and shows the information in the Info label. Indicator draws the detected pattern in the chosen time frame and also you can select in the menu to draw the trend line according to FZR peaks.

What it is FZR? See the first picture in the screenshots. As you can see for every peak of FZR the AO indicator must cross zero line. FZR indicator determines the trend direction.

How to use FZR for trading? When FZR patern is detected and the trend line is drawn you can wait when the price approaches to the trend line and buy or sell in FZR direction. The first take profit level is the last peak of the FZR and the others can be retrieved by Fibonacci levels. Of course you must evaluate the space available for price to go.

You can choose different visualization properties of Info label and FZR or trend lines.

Parameters:

--------------Info label---------------

  • Info label color
  • font size for Info label
  • Info label position             Top or Bottom in the center of the chart

---------------FZR line---------------

  • FZR line color
  • FZR line width
  • FZR line style

--------------Trend line---------------

  • Show trendline?                Yes or No to show the trend line
  •  Trendline color
  • Trendline width
  • Trendline style


Useful links:

Mt5 simuliator: https://mt5simulator.com?bg_ref=rmeiuTuSXA

For rebates go to https://premiumtrading.co/?ref=13525 and choose broker.
    Comentarios 1
    temiking
    292
    temiking 2021.06.02 17:40 
     

    Very useful indicator.

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    Good day! I present to you a trading technical indicator for Deriv broker synthetic indices. This indicator ONLY works with the following indices: Boom 300 Index Boom 500 Index Boom 1000 Index Crash 300 Index Crash 500 Index Crash 1000 Index The indicator was created to give signals to open medium-term trades in the direction of Spikes. But you can open trades in the opposite direction to Spikes, at your own risk. Trade only on M1. Other TFs do not guarantee the correct operation of the indic
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    5 (6)
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    temiking
    292
    temiking 2021.06.02 17:40 
     

    Very useful indicator.

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