Technical Indicators for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
This indicator significantly expands the capabilities of the usual ZigZag due to the addition of parabolic channels at the earliest stage of their origin.
Download the demo version and test it in the tester. All graphics in the tester are working.
But the ZigZag algorithm is special here, because it is implemented on a unique author's ultrafast loop-less algorithm for calculating parabolic regression and calculating its standard deviation.
The features of this ZigZag are:
- Fast calculation, regardless of the period. Therefore, the gain in speed is especially felt at higher periods.
- Two parameters instead of three: the period of parabolic regression and the coefficient of increase in the value of the standard deviation (the width of the parabolic channel)
- High adaptability to flat and trend
For the convenience of operating the indicator, a new intuitive interface has been developed, also designed for screens with touch control.
A simple test strategy with displaying the Balance chart and displaying deals on the screen is also implemented.
- Green circle - Buy.
- Red circle - Sell.
Opening price strictly in the center of the circle, taking into account the spread
This strategy opens a sell trade if the newly formed parabolic channel "looks" down and the price crosses the upper border of the channel, and to buy if it is up and the price crosses the lower border of the channel. The spread is calculated based on the average spread of the last 2000 ticks.
If this indicator is in demand, the strategies will expand.
I do not recommend using this indicator in the mode:
- Max bars in chart: = unlimited.
Because the calculation becomes very slow and the work becomes uncomfortable.
Please report any errors you find, they will be promptly eliminated.
In the future, a button will be added to Auto adjust the best parameters.
