Hi everyone! Today I want to share an amazing “ZigZagOnParabolic” indicator with you!
This indicator is based on two standard MT4/MT5 indicators — ZigZag and Parabolic SAR. “ZigZagOnParabolic” is an enhanced version of the well-know “ZigZag” indicator which marks the extremes on the chart with less delay. The indicator uses “ZigZag” to look for new extremum by searching the percentage deviation of the price from the previous extremum and then monitors the intersection of prices with the “Parabolic SAR” indicator. This indicator is available for both MetaTrader 4 and MetaTrader 5 platforms.
Input parameters:
- Step (default = 0.02) — one of the parameters of the standard Parabolic SAR indicator.
- Maximum (default = 0.2) — another parameter of the standard Parabolic SAR indicator.
- ExtremumsShift (default = true) — if true then the extrema are shown at their actual places; if false then the extrema are shown at the points in time when they were detected. Useful to see the delay between the actual extremum appearance and its detection point.
- History (default = 0) — amount of bars to use for calculation of the indicator. Change only if your PC is really slow. 0 — all bars are used in the calculation.
P.S. Have problems with installation? Send me an email at olivermurphy@altraforex.com.
I would love to help!
