Re: Zig-Zag Indicator MT4

23
charli wrote: Fri Dec 18, 2020 8:37 pm Dear coders,
is it possible to make the standard zig-zag indicator like in the picture, I mean, yellow is zig zag, red is just a trendline following the zig-zag direction, only need for faster visualization.............
so many zig zags.......
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Re: Zig-Zag Indicator MT4

28
hunterll wrote: Tue Apr 27, 2021 2:33 pm Dear, mr Banzai how to turn on MTF ?
Mr Banzai is on extended leave. Not sure why called MTF as zig zag is dependant on chart structure rather than time frame. Might be due to the adjustable Barn and Length inputs.

Barn pertains to the number of bars that the indicator is capable of analysing for the zig-zag high/lows.
Length refers to the number of bars that make up the impulse wave or the length of the wave.
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Re: Zig-Zag Indicator MT4

30
Hi Everyone,

Just leaving a Zig-Zag with cumulative volume display that I found from other site here. It works more or less like the Weiss Wave indicator but their displays of the cumulative volume data are slightly different.

Like any other zig-zag indis, this attached indicator repaints with every forming leg of new Higher Highs and Higher Lows. or Lower Highs and Lower Lows. So may others find some usefulness in this indicator for gathering data to aid in their decisive trading (this indicator is not suitable for signal entries due to its limitation)

Cheers

P.s. When using volume data from MT4, do you this indicator with brokers that are widely used by most retail traders (in other words, more famous brokers) to obtain a more reliable data source for the volume data. Forex volume is decentralized, So, it is important to understand the limitations/disadvantages of this indicator.
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