Robot catalog

SZZReader - Indicator for MetaTrader 4

SZZReader
TypeIndicators PlatformMT4 Version10 Date created20 April 2016 Date updated19 August 2017
Formatmq4 Size3.6Kb Downloads361 Rating
3.01 of 5
based on 86 rates

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.

Share

Most popular robots

bbma
MT4
Indicator
bbma
MBFX Timing
MT4
Indicator
MBFX Timing
MultiZigZag
MT4
Expert
MultiZigZag