Orlov ZigZag - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resources

There are numerous Zigzags of all kinds, most of them are algorithmically difficult and fail to give the desired results. And the working principle and adjustment are also difficult to understand.

I decided to write my own Zigzag and named it after me accordingly. ))

This is the zigzag, and its working principle is simple, clear and natural. It shows impulses and corrections that are important to you. Zigzag does not redraw since it only draws pulses that already exist.

Options and how they work:

 Minimum ratio of outer doubles = 0.33 ;

It means that the zigzag will respond to the new impulse in relation to the previous impulse. ie. A new line will only be constructed if the current pulse is not less than 0.33 of the previous pulse.

0.5 - not less than half

0.75 - not less than three quarters and so on.

 external integer minimum integral = 20 ;

Filters remove fluctuations that are too small, i.e. market noise. Specifies the minimum pulse size (in points) for the reaction. ie. Zigzag will not react to pulses smaller than MinPoints.

 external integer force point = 50 ;

This parameter allows to react to considerable recoil forces, even if they are smaller than MinRatio. For example, after strenuous exercise.

If the parameter MinPoints is set larger than ForcePoints, ForcePoints will automatically be increased to the same size.

 external boolean passed off = false;

Interesting parameters allow to draw zigzags guided by closing prices and ignore the market noise of highs and lows.

 external integer history = 5000 ;

This is just history . )

Attachment download

📎 ZZ_Orlova.mq4 (6.38 KB)

Source: MQL5 #10076