This code is a sample implementation of the Valable ZigZag indicator in MQL5. The Valable ZigZag indicator is used to identify and visualize significant price movements in the market. It is based on the concept of Elliott Wave Theory and can be used to optimize trades.
To use the Valable ZigZag indicator, follow these steps:
- Install the indicator on an H4 timeframe chart. If the chart is not set to H4, the indicator will not function properly.
- Set the indicator's digital filter parameter to 1.
The Valable ZigZag indicator calculates the ZigZag values based on the provided price data. The calculated ZigZag values can be used to identify trends in the market. The indicator provides the following functionality:
- OnInit(): Initializes the expert advisor and sets the required timeframe to H4.
- OnDeinit(): Performs any necessary clean-up operations.
- OnTick(): Retrieves the current ZigZag value and performs trend trading based on the identified trend. It also allows the trader to switch to the H1 timeframe by pressing the F1 key.
- Custom indicator 'Valable ZigZag': Defines the Valable ZigZag indicator and its calculation logic.
The Valable ZigZag indicator is a powerful tool that can help traders optimize their trades using Elliott Wave Theory. It identifies significant price movements and visualizes them on the chart, making it easier to spot trends and make informed trading decisions.
Key Features:
- Based on Elliott Wave Theory: The Valable ZigZag indicator is built on the principles of Elliott Wave Theory, which is a widely used trading theory in the financial markets. It helps traders identify and predict market trends.
- Easy-to-use: The indicator is easy to install and use. Simply add it to an H4 timeframe chart, and it will automatically calculate and display the ZigZag values.
- Trend Trading: The indicator provides clear signals for both upward and downward trends, allowing traders to take advantage of profitable trading opportunities.
- Customizable: Traders can customize the indicator's parameters to suit their trading style and preferences.
Please note that ForexRobotEasy is not the official developer of this product. We only provide a sample code that can work as described in the product. To find the official developer of this product, please refer to the MQL5 marketplace.
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