ZigZag on Fractals – indicator for MetaTrader 5

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category:MT5 INDICATORS

ZigZag on Fractals uses fractals (iFractals, Fractals) as reference peaks. Here, the following rule is applied: Where the latest peak was built on the DOWN-fractal and the current DOWN-fractal detected is lower, then the ZigZag will be moved down to the current peak detected:

ZigZag on Fractals - indicator for MetaTrader 5

Use in trading - the two methods opposed:

  1. Trading in the direction of the latest peak;
  2. Trading in the direction opposite to the latest peak.

Trading strategies for each symbol and each timeframe must be chosen individually.

Important information on using it in an EA: In the ZigZag on Fractals indicator, the zigzag value is stored in buffer No. "0"; the values in buffer No. "0" may be EITHER EMPTY_VALUE or the actual price.

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