Waverider Zigzag - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resources
The logic of finding peaks and valleys is explained as follows:
We get the peak when the lowest point of the candle (i) is greater than the maximum of (lips, chin, teeth)
We reach the bottom when the high of candle (i) is below the minimum of (lips, chin, teeth)
Then we calculate the highest and lowest points to draw the zigzag
It is accurate for calculating Fibonacci, harmonic patterns and finding trend direction
Attachment download
📎 waverider_zigzag.mq4 (5.66 KB)
Source: MQL5 #29248
Waverider Zigzag - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resource Usage and Screening Suggestions
Waverider Zigzag - MetaTrader 4 Script | Trading Script Download - MT4/MT5 resources are trading script 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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