ZigZag_Oscillator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The ZigZag oscillator displays a colored histogram of the closing price's distance from the ZigZag pivot point (breakout) in a separate chart window.
It has four configurable parameters:
ZZOsc = 100 * (Closing Price - LastZZ) / LastZZ
LastZZ - ZigZag price on pivot point
If the pivot point equals 0, counting will start from the nearest left ZigZag breakout point or the end of its last ray.
Figure 1. ZigZag Oscillator + ZigZag, ZigZag Pivot Point = 0
Figure 2. ZigZag Oscillator + ZigZag, ZigZag Pivot Point = 1
Figure 3. ZigZag Oscillator + ZigZag, ZigZag Pivot Point = 2
Attachment download
📎 zigzag_oscillator.mq5 (12.55 KB)
📎 zigzag.mq5 (9.33 KB)
Source: MQL5 #23420
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