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This technical indicator shows Merrill's М and W wave patterns and the Zigzag indicator of support/resistance levels plotted at standard extreme points. A. Merrill classified five-point shapes according to the order of points from top to bottom and created the ordered classification model M & W Waves. Here they are:

A. Merrill's dynamic patterns are patterns that can change over time. The dynamic pattern is on the first four right-hand zigzag rays. In this indicator, all patterns are considered dynamic. To provide this condition, mutations of the conceptual wave were introduced artificially (see below) and the algorithm of the classic Zigzag indicator was slightly modified.

As for Zigzag, the core of the extreme search algorithm, this algorithm is a "temporary (quick) decision" and of course needs to be replaced. Since most errors are related to pattern detection without schema (see enumeration NamePattern in MyCPattern.mqh file) - this is a search engine error.

The evolution and mutation of waves

Evolution - a change in dynamic pattern, still staying within the same wave family. Evolution of the M-wave pattern:

Evolution of W-wave pattern:

Mutation - A change in a dynamic pattern and then movement to another wave family. Mutation of M-wave mode:

Abrupt changes in W-wave mode:

Notes : The prediction algorithm considers mutations that result in the youngest evolved shape, and the evolution/mutation counters are aware of possible non-sequential mutations/evolution. For example, mutations in intermediate and advanced forms. This is implemented by selecting a specific value in a bitmask of the enumeration NamePattern (see MyCPattern.mqh). If you want to use evolution/mutation counters - don't change the enum name pattern.

Indicator operation:

This indicator displays Merrill's М and W wave patterns as well as support/resistance levels on the chart. The metric is recalculated on each new history bar (to save CPU time when rendering objects). All object names are pseudo-random. This indicator calculates the predicted price movement based on the expectation of the private (continuous) evolution/mutation of the waves. This metric includes a counter for pattern model efficiency.

Current version:

Test version 1.02:

Search engine, classic zigzag;

Predictive model: Level 0 (sequential evolution/mutation);

Model Counter: Level 0 (Algorithm: "I only count what I see, I don't know what was before...". Statistics are shown after the 11th shape appears).

Attachment download

📎 myccomment.mqh (11.84 KB)

📎 mycarrow.mqh (14.05 KB)

📎 myctrendline.mqh (19.78 KB)

📎 mychline.mqh (15.54 KB)

📎 mycextremum.mqh (26.3 KB)

📎 myclistarrow.mqh (28.28 KB)

📎 myclisttrendline.mqh (40.24 KB)

📎 myclisthline.mqh (26.74 KB)

📎 myclistpattern.mqh (14.4 KB)

📎 mycpatternzigzag.mqh (60.75 KB)

📎 mycpattern.mqh (28.11 KB)

📎 fivepattern.mq5 (13 KB)

Source: MQL5 #7050