Description :
This technical indicator shows М & W Wave Patterns by Merrill & Support/Resistance levels drawn at extreme points of the standard ZigZag indicator.
A. Merrill classified five-pointed shapes based on the order of the points from top to bottom, and created an orderly classification model M & W Waves.
Here they are :
The dynamic pattern by A. Merrill is the pattern that can vary over time. The dynamic pattern is on the first four right zigzag rays. In this indicator all patterns are considered dynamic. To provide this condition, the concept of mutation of waves was artificially introduced (see below) and the algorithm of the classic Zigzag indicator was slightly modified.
As for the core of the extreme search algorithm - Zigzag, this algorithm is a "temporary (quick) decision" and certainly requires replacement. Since most of the errors are associated with pattern detection NOPATTERN (see in enum NamePattern in the MyCPattern.mqh file) - this is an error of the search engine.
