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ZigZagOnParabolic is a classic zigzag indicator changed to use Parabolic SAR as the basis for its peaks and troughs.

Home Page: https://www.earnforex.com/metatrader-indicators/ZigZagOnParabolic/

License: GNU General Public License v3.0

MQL4 47.39% MQL5 52.61%
alerts chart forex forex-chart forex-trading indicator metatrader metatrader-4 metatrader-5 mql4

zigzagonparabolic's Introduction

ZigZagOnParabolic

ZigZagOnParabolic is a custom MT4/MT5 indicator coded by EarnForex.com. The indicator takes the classic Parabolic SAR indicator and uses its reversal as a cue for the zigzag's peaks and troughs.

The indicator can display the peaks and troughs both on the actual maximum/minimum time and on detection time. Alerts are also included.

ZigZagOnParabolic shows a consolidation phase and a breakout

More information about this custom MetaTrader indicator is available here: https://www.earnforex.com/metatrader-indicators/ZigZagOnParabolic/

Any contributions to the code are welcome!

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