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Re: Zig-Zag Indicators MT4

mrtools, Thu Feb 23, 2023 10:12 am

mrtools wrote: Thu Feb 23, 2023 10:09 am Made a new version but the mtf works on everything except offline charts.
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About pivot setting in the indicator from Scriptor on the mt5 site:

Calculations:

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ZZOsc = 100 * (Close - LastZZ) / LastZZ
where:

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LastZZ - ZigZag price on the pivot point
If the pivot point is equal to zero, then the counting will be started from the nearest left ZigZag break or from the end of its last ray.
Fig. 1. ZigZag Oscillator + ZigZag, ZigZag pivot point = 0

Fig. 2. ZigZag Oscillator + ZigZag, ZigZag pivot point = 1


Fig. 3. ZigZag Oscillator + ZigZag, ZigZag pivot point = 2
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