The Last ZZ50 - MetaTrader 5 Expert | Forex Indicators Download - MT4/MT5 Resources

The strategy is based on the ZigZag indicator and pending orders.

The code idea first appeared in the forum topic Strategy based on ZigZag indicator - "Last ZZ50" (in Russian).

Author of the idea: Vitaliy Muzchenko , author of the MQL5 code: Vladimir Karputov .

The general principles of the "Last ZZ50" strategy:

In the ZigZag indicator we always analyze the last two rays: AB and BC . This AB ray is not fixed yet and can change (the position of the ray a point can change).

The pending order is located between the AB and BC rays such that:

Since the AB ray is not yet fixed and can change (the position of the ray can change one point), pending orders will always be modified to keep their price in the middle AB .

Tracking of open positions is based on the following rules: we wait until the position moves into the profit zone (without accounting for account commissions and swaps) at least (Trailing Stop + Trailing Step) points, and then enable the tracking function for this position.

The process of implementing search peaks in this Expert Advisor: Add the indicator to the chart and draw three additional vertical lines through the points A , B and C :

Attachment download

📎 last_zz50.mq5 (61.26 KB)

Source: MQL5 #18857