//+------------------------------------------------------------------+
//| zigzag-pointer.mq4 |
//| zigzag modified by Dr. Gaines |
//| dr_richard_gaines@yahoo.com |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "dr_richard_gaines"
#property link "http://www.metaquotes.net/"
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Lime
#property indicator_width1 2
#property indicator_color2 Red
#property indicator_width2 2
#property indicator_color3 Yellow
#property indicator_width3 1
#property indicator_color4 Orange
#property indicator_width4 1
//---- indicator parameters
extern int ExtDepth=100;
extern int ExtDeviation=75;
extern int ExtBackstep=15;
//---- indicator buffers
double ZigZagUp[];
double ZigZagDown[];
double zzL[];
double zzH[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
IndicatorBuffers(4);
//---- drawing settings
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0, 233);
SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(1, 234);
SetIndexStyle(2,DRAW_ARROW);
SetIndexArrow(2, 233);
SetIndexStyle(3,DRAW_ARROW);
SetIndexArrow(3, 234);
//---- indicator buffers mapping
SetIndexBuffer(0,ZigZagUp);
SetIndexBuffer(1,ZigZagDown);
SetIndexBuffer(2,zzL);
SetIndexBuffer(3,zzH);
SetIndexEmptyValue(0,0.0);
SetIndexEmptyValue(1,0.0);
SetIndexEmptyValue(2,0.0);
SetIndexEmptyValue(3,0.0);
//---- indicator short name
IndicatorShortName("ZigZag("+ExtDepth+","+ExtDeviation+","+ExtBackstep+")");
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
int start()
{
int shift, back,lasthighpos,lastlowpos;
double val,res;
double curlow,curhigh,lasthigh,lastlow;
for(shift=Bars-ExtDepth; shift>=0; shift--)
{
val=Low[Lowest(NULL,0,MODE_LOW,ExtDepth,shift)];
if(val==lastlow) val=0.0;
else
{
lastlow=val;
if((Low[shift]-val)>(ExtDeviation*Point)) val=0.0;
else
{
for(back=1; back<=ExtBackstep; back++)
{
res=ZigZagUp[shift+back];
if((res!=0)&&(res>val)) { ZigZagUp[shift+back]=0.0; zzL[shift + back] = res; }
}
}
}
ZigZagUp[shift]=val;
//--- high
val=High[Highest(NULL,0,MODE_HIGH,ExtDepth,shift)];
if(val==lasthigh) val=0.0;
else
{
lasthigh=val;
if((val-High[shift])>(ExtDeviation*Point)) val=0.0;
else
{
for(back=1; back<=ExtBackstep; back++)
{
res=ZigZagDown[shift+back];
if((res!=0)&&(res<val)){ ZigZagDown[shift+back]=0.0; zzH[shift + back] = res; }
}
}
}
ZigZagDown[shift]=val;
}
// final cutting
lasthigh=-1; lasthighpos=-1;
lastlow=-1; lastlowpos=-1;
for(shift=Bars-ExtDepth; shift>=0; shift--)
{
curlow=ZigZagUp[shift];
curhigh=ZigZagDown[shift];
if((curlow==0)&&(curhigh==0)) continue;
//---
if(curhigh!=0)
{
if(lasthigh>0)
{
if(lasthigh<curhigh)
{
zzH[lasthighpos] = ZigZagDown[lasthighpos];
ZigZagDown[lasthighpos]=0;
}
else ZigZagDown[shift]=0;
}
//---
if(lasthigh<curhigh || lasthigh<0)
{
lasthigh=curhigh;
lasthighpos=shift;
}
lastlow=-1;
}
//----
if(curlow!=0)
{
if(lastlow>0)
{
if(lastlow>curlow)
{
zzL[lastlowpos] = ZigZagUp[lastlowpos];
ZigZagUp[lastlowpos]=0;
}
else ZigZagUp[shift]=0;
}
//---
if((curlow<lastlow)||(lastlow<0))
{
lastlow=curlow;
lastlowpos=shift;
}
lasthigh=-1;
}
}
for(shift=Bars-1; shift>=0; shift--)
{
if(shift>=Bars-ExtDepth) ZigZagUp[shift]=0.0;
else
{
res=ZigZagDown[shift];
if(res!=0.0) ZigZagDown[shift]=res;
}
}
}
//end//
Sample
Analysis
Market Information Used:
Series array that contains the lowest prices of each bar
Series array that contains the highest prices of each bar
Indicator Curves created:
Implements a curve of type DRAW_ARROW
Indicators Used:
Custom Indicators Used:
Order Management characteristics:
Other Features: