Dear @mrtools / @kvak,
With utmost respect and gratitude, I kindly request your attention to the following details regarding the conversion and enhancement of the indicators mentioned below.
I sincerely appreciate your time, effort, generosity, and contributions. Apologies for the lengthy message.
I have not come across an indicator for the MT5 platform that can calculate the delta of each ZigZag leg based on Depth/Deviation/Backstep and display it above and below the ZigZag points. In the Sierra Chart platform, this functionality is readily available, leveraging volume data. There is also an indicator and trading system called KISS Order Flow, which I have implemented on Sierra Chart. This system works by analyzing the delta of the last three ZigZag legs to generate Buy/Sell signals. It also includes a histogram at the bottom of the chart to visually display the cumulative delta for identifying divergences.
You can find more details about a similar tool here:
https://www.nobstools.com/order-flow/turbo-delta-swings
I am using an indicator (or study) from the following source on Sierra Chart:
https://www.twofoxtrading.co.uk/docs/fr ... lta-study/
Given the trading system principles on MT5, such as those used by XARD with dots and ZigZag, the absence of an indicator that calculates the delta of each ZigZag leg based on Depth/Deviation/Backstep is noticeable. For MT5, tick volume could be utilized for this purpose.
I have attached several screenshots from Sierra Chart for reference. Additionally, I’ve included the source code files for the ZigZagCumVolume and ZigZagHLLines indicators, which are written in ACSIL (Advanced Custom Study Interface and Language), based on C++.
Final Request:
The above details are provided for clarity and to facilitate the process. It would be fantastic if you could develop this indicator for MT5. I have also found several Weis Wave indicators for MT4 that are somewhat similar to this trading system. I’ve attached them and kindly request you to review their code.
If there is room for improvement or optimization (as they tend to lag or feel heavy on the chart without additional features), please enhance them for MT4.
If no improvements are needed, kindly convert them to MT5.
Adding a histogram of the deltas and ZigZag legs would be highly beneficial.
Please also keep divergence detection in mind, if feasible, as an additional feature. Note that these three indicators must be installed together to function properly.
Thank you very much for your time and support.
Best regards