ChannelZZ - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Tinytjan aka TheXpert
Use the channel principle to draw a zigzag line.
This indicator shows some statistics - the ratio of the midside length to the previous length and the midside length itself (length is the height from the lower point to the upper point in points).
The ZZ.mq5 file is zigzag with no draw channels!
The indicator was first implemented in MQL4 and published in the code base of mql4.com on August 1, 2008.
Figure 1 ChannelZZ indicator
Attachment download
📎 channelzz.mq5 (22.27 KB)
📎zz.mq5 (18.08 KB)
Source: MQL5 #1675
ChannelZZ - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
ChannelZZ - 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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