MultiZigZag MetaTrader 4 Forex Indicator
It is based upon the formula of the zigzag delivered together with MetaTrader 4 in 2005-2006.
The main disadvantages of the initial, 2005-2006, version:
1) A huge loading of the processor by the factor of the full recalculation of the zigzag on every tick. The low-power Computers essentially hanged during the extreme motions at the market.
2) The inaccurate illustration. The cracks of the zigzag just suspended "in the air" without binding to the optimum (minimum) of the bar. Yet conceptually the zigzag has to show the precise placement of minimum (optimum) on the graph.
3) The zigzag begins floating if you try to scroll back the history and it is drawn without aesthetic binding to the chart.
This variation of zigzag is relieved from all downsides listed above. Just the last three rays of the zigzag are recalculated. At that, the recalculation is executed only when the costs get out of the computed part of the no bar. I.e. when the minimum or optimum of the no bar is absolutely no, or when a new bar appears, or when the background is being posted.
Each of 3 zigzags utilizes 2 buffers. One buffer is for the maximums and the other one is for minimums. This enables to outcome the maximum as well as the minimum on a solitary bar. There are 2 uninhabited buffers. Those who desire can write the code and insert the fourth specimen of the code. This can be an excellent lesson for the pupil MQL4 designers. Or you can utilize the uninhabited buffers for a few other tasks, in situation the zigzag will certainly be put right into the created systems.
The calculation as well as illustration of the zigzags from bigger timeframes are executed without using the i customized() feature. For the automation purposes we can dispose of the sign barriers. In this instance we can calculate the zigzags for all timeframes concurrently as well as additionally for any kind of variety of the icons. So there suffices ram memory. The understanding of estimation without the i personalized() function enables to carry out, for instance, the search of the patterns (Gartley or the others) not just on the present timeframes, however on any type of chosen duration and additionally on a number of durations all at once.
The majority of the outside parameters are the string variables.
The specifications divided by commas are composed in each string variable for each zigzag. The separator of the criteria is comma.
The initial number is for the initial zigzag, the 2nd one - for second and also the 3rd is for third. Divided by commas.
ExtDepth, ExtDeviation and ExtBackstep are the basic parameters for the zigzag.
If you set ExtDepth=0, then the equivalent zigzag will not be presented.
ExtMaxBar - the number of benches the zigzag will be relied on.
GrossPeriod - the durations of the charts defined in mins the information will certainly be extracted from for the zigzag estimation. If you define 0 the zigzag will be calculated on the present duration.
You can specify the adhering to values: 0-1-5-15-30-60-240-1440-10080-43200.
Ext ReCalculate - the number of extremes of the zigzag beginning from 0 that are recalculated in the real time mode. It is used for the zigzags from the larger durations. It is recommended not to change this parameter.
The zigzags are presented from H1-H4-D1 on default. The zigzags will be shown starting from the 1 minute timeframe as well as finishing with the day-to-day timeframe. Just one zigzag that is attracted by the information extracted from the D1 duration will be shown on the daily timeframe. Only the zigzags on the basis of the larger or current durations are drawn.
The instance aware: the zigzag from H1 is attracted with the Aqua color, H4 - with the Red and D1 - with the Yellow.
MultiZigZag MT4 Indicator – Download Instructions
In order to transform accumulated history data, you need to install a MetaTrader 4
MultiZigZag - it is a MetaTrader 4 indicator that allows you to detect several changes and dynamics in price that many traders can’t estimate or see without an indicator, which highlights its essence and usage.
Accordingly, traders can draw conclusions and make estimates about how the prices will change based on the information they have and then they can modify their strategy for better trading.
How to install MultiZigZag indicator for MetaTrader 4.mq4?
Download indicator for MetaTrader 4.mq4
Copy MultiZigZag to Directory / experts / indicators /
Start or restart your Metatrader 4 Client
Select Chart and Timeframe where you want to test your mt5 indicator
Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
Right click on MT4 indicator for MetaTrader 4.mq4
Attach to a chart
Modify settings or press ok
now indicator for MetaTrader 4.mq4 is available on your Chart
How to remove MT4 Indicator for MetaTrader 4.mq4 from your Metatrader 4 Chart?
Select the Chart where is the Indicator running in your Metatrader 4 Client
Right click into the Chart
Select the Indicator and delete.
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