Delta ZigZag – indicator for MetaTrader 5

0
902

The most important difference of this indicator from other versions of the zigzag is determination of the trend on a breakthrough level of the local extremums. The number of levels is set in parameters and means that, for instance, in ascending move the trend change will be fixed only when the least of the N local minimums will breakthrough price (where N is a number of levels). For more visualization the Delta ZigZag displays these reversal levels.

Besides, the indicator can be drawn as on high/low prices, so on close prices, and forms the section reversal only on the basis of the minimum swing height set by the trader. It should be noted that drawn on close prices Delta ZigZag with the number of levels equal to 1, in fact is identical to Kagi charts (visual presentation is different, but logics is the same).

As for high/low prices, the following features apply also:

If the last section of zigzag is ascending:

  • if current bar forms the new maximum then we continue the section of zigzag up and prohibit the reversal down in current bar.
  • if high of the current bar is lower the last value of zigzag and low of the current bar is lower the last value of the zigzag on a set swing height then we draw the descending section (i.e. has zigzag reversal).

The similar rules applied to descending sections of the indicator.

Parameters:

  • Apply to prices – to use high/low prices or only close prices
  • Reversal – reversal mode (in pips or percentage)
  • Reversal in pips – the minimum reversal value in pips. The parameter is actual in case if the reversal mode is also in pips and does not produce any influence if the reversal mode is in percentage.
  • Reversal in percentage – the minimum value of the reversal in percentage. The parameter is actual in case if the reversal mode is also in percentage and does not produce any influence if the reversal mode is in pips.
  • Number of levels – number of last minimums/maximums at which the change of the trend direction will be fixed.

Recommended MT5 Brokers

XM Broker

  • Free $50 To Start Trading Instantly! (Withdraw-able Profit)
  • Deposit Bonus up to $5,000
  • Unlimited Loyalty Program
  • Award Winning Forex Broker
  • Additional Exclusive Bonuses Throughout The Year
  • Exclusive 50% Cash Rebates for all Trades! 

50 Rebate

>> Sign Up for XM Broker Account here with Exclusive 50% Cash Rebates For All Future Trades [Use This Special Invitation Link]  <<

Already an XM client but missing out on cashback? Open New Real Account and Enter this Partner Code: 𝟕𝐖𝟑𝐉𝐐


(Free MT5 Indicators Download)
download arrow



Enter Your Email Address below, download link will be sent to you.

Get Download Link


Get Smarter About Forex Trading Using Indicators

Join 100,000+ subscribers and get our 5 min daily newsletter on what matters in forex.

We do not sell or share your information with anyone.

LEAVE A REPLY

Please enter your comment!
Please enter your name here