This script is designed to enhance visual market analysis by synchronizing data from different timeframes onto a single trading chart. Its primary purpose is to allow traders to view high-level "ZigZag" price movements—which identify major structural trends and significant turning points—while looking at smaller, more detailed price intervals.
Core Functionality
The logic operates by acting as a bridge between two different views of the market. Normally, a standard ZigZag indicator only shows data relative to the timeframe you are currently viewing. This script changes that behavior by pulling "macro" data from a larger timeframe and projecting it accurately onto your current smaller timeframe chart.
How It Works
The logic follows a specific three-step process to ensure the information displayed is accurate:
- Timeframe Synchronization: The script first looks at a primary "Gross Period" (a large timeframe like 1 hour or 4 hours). It gathers the historical price points from this larger view to identify major peaks and valleys.
- Dynamic Mapping: Because smaller timeframes have many more candles than larger ones, the script performs a search through historical data. It calculates exactly where a specific moment on the small chart aligns with the corresponding moment on the large chart. This ensures that the "macro" price points stay perfectly aligned with the current time.
- Visual Overlay: Once the alignment is calculated, the script pulls the ZigZag values from the larger timeframe and draws them as yellow markers on your current chart.
Key Benefits for the User
- Contextual Awareness: It prevents "getting lost in the weeds" by highlighting whether the current small-scale price action is moving in harmony with a much larger trend.
- Seamless Integration: You do not have to switch back and forth between different charts to see the bigger picture; the script automatically calculates the necessary offsets to show you the structural data you need instantly.
- Visual Clarity: By using specific markers, it identifies significant price reversals that might be difficult to spot when only looking at minor price fluctuations.
Miscellaneous
13
Views
0
Downloads
0
Favorites
DT-ZigZag_002
//+------------------------------------------------------------------+
//| DT-ZigZag.mq4 |
//+------------------------------------------------------------------+
#property copyright "klot"
#property link "klot@mail.ru"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Yellow
//---- input parameters
extern int GrossPeriod=60;
extern int ExtDepth=12;
extern int ExtDeviation=5;
extern int ExtBackstep=3;
//---- buffers
double ExtMapBuffer1[];
datetime daytimes[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,159);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexEmptyValue(0,0.0);
//----
if (Period()>GrossPeriod) { Alert("DT-ZigZag: ", GrossPeriod); return(0); }
// Âñå Time[] ñåðèè âðåìåíè îòñîðòèðîâàíî â íàïðàâëåíèè óáûâàíèÿ
ArrayCopySeries(daytimes,MODE_TIME,Symbol(),GrossPeriod);
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int limit, bigshift;
int counted_bars=IndicatorCounted();
//----
if (counted_bars<0) return(-1);
if (counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
for (int i=0; i<limit; i++)
{
if(Time[i]>=daytimes[0]) bigshift=0;
else
{
bigshift = ArrayBsearch(daytimes,Time[i-1],WHOLE_ARRAY,0,MODE_DESCEND);
if(Period()<=GrossPeriod) bigshift++;
}
ExtMapBuffer1[i]=iCustom(NULL,GrossPeriod,"ZigZag",ExtDepth,ExtDeviation,ExtBackstep,0,bigshift);
}
//----
return(0);
}
//+------------------------------------------------------------------+
Comments