Technical Indicators for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
One of the disadvantages of the ZigZag indicator when working with advisers is the need to find the latest extremes.
For this purpose, various algorithms of history analysis in indicator buffers are used.
However, the indicator itself knows these values and can therefore display them.
To this target, the ZigZag Minimum indicator (https://www.mql5.com/ru/market/product/37975) has been refined.
The zero buffer stores the value of the last maximum.
The first buffer stores the value of the last minimum.
Attention!
The ZigZag indicator values are stored in the second buffer only when main line drawing is enabled!
The value of the Price noise parameter significantly affects the construction of the indicator!
Indicator parameters with default values:
Depth = 12 - is depth of search of a local extremum in bars;
Price noise = 5 - is standard value of price noise for the current timeframe and the instrument;
Backstep = 3 - depth of correction of global extremes in bars;
Show ZigZag = false - turn on/off the main ZigZag line display;
On minute calc = true - enable/disable calculation on the minute bar (disable - calculation on each tick).
