SZZReader - Indicator for MetaTrader 4
The indicator is one of the modifications of the ZigZag tool. It is used to find patterns on a chart. The main feature of the indicator is that it searches for ZZ nodes only if there is a minimum or maximum in the approximation curve (Snake). This indicator passes other extremums as insignificant. When the price rolls back, ZZ nodes do not follow it, but are fixed at the initial level.
In addition, the ZigZag curve is calculated on the highest timeframe, and its construction takes place on the younger one. This reduces the number of redraws, as well as the creation of extra ZZ nodes.