ZigZagPointer - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Another interpretation of the ZigZag indicator. Tops in this indicator are marked not with jagged dashed lines, but with colored dots. Naturally, after such a conversion, the indicator will still be redrawn.
This indicator was originally written in MQL4 and first published in the code base of mql4.com on September 19, 2007.
Figure 1. ZigZagPointer indicator
Attachment download
📎 zigzagpointer.mq5 (10.92 KB)
Source: MQL5 #2261
ZigZagPointer - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
ZigZagPointer - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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