Color ZigZag - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource
ColorZZ is a fast ZZ indicator. ColorZZ draws segments of different colors based on the ratio of the current segment range to the previous segment range. Select the following ratio values: Red (<=0.382), Gold (<=0.618), Lime (<=1), Light Green (<=1.618), and Blue (>1.618).
warn. The indicator does not display the color of vertical line segments correctly. This is due to technical limitations of the DRAW_COLOR_ZIGZAG print style.
Attachment download
📎 colorzz.mq5 (6.02 KB)
Source: MQL5 #1040
Color ZigZag - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Color ZigZag - 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 only on titles or short-term profit descriptions.
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