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:
Use in trading - the two methods opposed:
- Trading in the direction of the latest peak;
- 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.