Non-parametric Zig Zag, A-la Clyde Lee pattern - MetaTrader 5 script

An upward ZigZag segment begins when a bullish (rising) pattern of highs and lows occurs on the current bar. The same goes for downward zigzags. A ZigZag line (ZigZagLineBuffer) is drawn from the beginning of a line segment to the beginning of the opposite line segment.

The numbers below the bars represent the pattern index (P0..P4) of "Low bar a-la Clyde Lee". The numbers above the bars (P5..P9) indicate the index of the A-la Clyde Lee High bar.

The indicator does not redraw.

I think this zigzag can be used to convert the chart into segments for further analysis.

Attachment download

📎clzzi.mq5 (11.37 KB)

Source: MQL5 #279

Non-parametric Zig Zag, A-la Clyde Lee Pattern - Important points before using MetaTrader 5 scripts

This page has been supplemented with structured instructions, focusing on the purpose of trading scripts, MT4/MT5 platform compatibility, testing procedures and risk control. Before downloading or deploying, it is recommended to first determine whether it is consistent with your own variety, cycle and account environment.

Suitable for who to use

• Users who want to quickly screen trading scripts and are willing to do simulation verification first.
• People who need to compare MT4/MT5 EAs, indicators, scripts or source code projects.
• Traders who wish to record backtests, parameters and risk boundaries before placing a trade.

Testing and risk control suggestions

• First verify the default parameters in the strategy tester or demo account, and then adjust the symbol, period, spread and trading period one by one.
• Scalping, grid, martin, and high-frequency strategies should focus on observing maximum drawdowns, consecutive losses, slippage, and trading frequency.
• It is not recommended to run any document directly on the real disk. At least observe the simulated disk performance for 2-4 weeks first.

FAQ

Can MT4 and MT5 be used interchangeably?
Usually cannot be used directly. EX4/MQ4 corresponds to MT4, EX5/MQ5 corresponds to MT5, and the source code needs to be compiled in the corresponding MetaEditor.

Is this resource guaranteed to be profitable?
cannot. EAs, indicators and scripts can only be used as trading tools, and the results depend on parameters, market environment, spreads, slippage and risk control.

What else can I continue to watch?
Forex EA download , foreign exchange indicator download , EA evaluation , MQL5 CodeBase .

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