forex indicator ZigZagOnParabolic
ZigZagOnParabolic MetaTrader Indicator - is based on two standard indicators of platform MetaTrader - ZigZag and Parabolic SAR, he tries to show an improved version of the first, marking the extremes of the graph with less delay. Standard ZigZag looking for a new extreme, following the percentage deviation of prices from the previous extremum. This new LED monitors the crossing with the price indicator Parabolic SAR. Both indicators are displayed pryamona chart. Indicator is available in versions for platofrmy MetaTrader 4 MetaTrader 5.
- Step (default = 0.02) - setting a standard indicator Parabolic SAR.
- Maximum (default = 0.2) - another option is a standard indicator Parabolic SAR.
- ExtremumsShift (default = true) - if true, then the extremes are shown where they actually are, if false, then the extremes are drawn at the points (in time), where they found the indicator. It is useful to see the definition of the delay of the extrema.
- History (default = 0) - number of bars to calculate the indicator. Change only if you have a slow computer. 0 - all the bars involved in the calculation.
Although indicators such as ZigZag do not give very good signals to trade, this can be used to enter long or short positions in the highs and lows, respectively. But it's best to use this indicator for the construction of various channels, patterns and other shapes on the chart, based on the extremes shown.ZigZagOnParabolic.mq4