Zig Zag Ma Rsi Signal1
- Göstergeler
- Hasan Mecit
- Sürüm: 1.0
- Etkinleştirmeler: 5
This code creates a custom indicator for the MetaTrader 5 platform. The indicator generates strong buy and sell signals using a combination of ZigZag, Moving Average (MA), and Relative Strength Index (RSI). Here’s a detailed explanation of the code:
Indicator Definition and Features:
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The indicator is displayed in the chart window.
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It uses 5 indicator buffers and 3 plots.
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Separate graphs are defined for ZigZag, buy signals, and sell signals.
Input Parameters:
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Various parameters are defined for ZigZag, MA, and RSI (depth, deviation, period, etc.).
Indicator Buffers:
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Buffers are created for ZigZag, buy signals, sell signals, MA, and RSI.
OnInit() Function:
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Indicator buffers are set up.
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Arrow codes for buy and sell signals are specified.
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Handles for ZigZag, MA, and RSI indicators are created.
OnCalculate() Function:
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ZigZag, MA, and RSI values are copied.
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Signals are calculated for each bar:
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Buy signal: ZigZag is rising, the closing price is above the MA, and RSI is below the lower level.
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Sell signal: ZigZag is falling, the closing price is below the MA, and RSI is above the upper level.
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OnDeinit() Function:
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Indicator handles are released.
How the Indicator Works:
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ZigZag identifies significant turning points in price movements.
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MA shows the general trend direction.
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RSI determines overbought/oversold conditions.
A buy signal occurs when the price starts to rise, closes above the MA, and RSI exits the oversold zone. A sell signal occurs under the opposite conditions.
This indicator aims to identify potentially strong buy and sell opportunities by combining trend-following and momentum strategies.
