The ZigZag Delta Swing Analyzer is a powerful MetaTrader 5 (MT5) indicator designed to simulate order flow analysis using tick volume, inspired by advanced tools like kissorderflow and NOBS Turbo Delta Swings. It combines ZigZag swing detection with delta-based analysis, pattern recognition, and divergence signals to help traders identify key market levels, reversals, and trends. Tailored for MT5, it leverages tick volume to approximate order flow dynamics, making it a unique tool for swing traders despite the absence of real volume data in MT5.
The ZigZag Delta Swing Analyzer was designed based on the specific request outlined in this Forex-Station postpost1295571321.html#p1295571321, combining ZigZag swing detection with tick volume-based delta analysis, inspired by tools like KISS Order Flow and NOBS Turbo Delta Swings. I hope you find it useful and enjoy using it! Let’s work together to address any issues or improvements needed.
Features
• ZigZag Swing Detection: Identifies swing highs and lows using customizable depth, deviation, and backstep parameters.
• Delta Analysis: Displays tick volume-based delta (price movement strength) in a histogram, simulating order flow insights.
• Pattern Recognition: Marks Higher Highs (HHH), Lower Lows (LLL), Higher Lows (HL), and Lower Highs (LH) with arrows and labels.
• Divergence Detection: Identifies regular and hidden bullish/bearish divergences across price, swings, and histogram data.
Notes
• Tick Volume Limitation: This indicator uses tick volume to simulate order flow, as MT5 does not provide real volume data (e.g., futures contracts).
• Performance: Limited to 500 bars by default; increase MaxBars cautiously to avoid slowdowns.
• Comparison: Inspired by tools like kissorderflow and NOBS Turbo Delta Swings, but adapted for MT5’s tick volume environment.
Author
• Special Thanks: To Kourosh for his expertise, patience, and invaluable contributions to this project.
