If you’re a trader who’s been using MetaTrader for a while, you likely know about the Zigzag indicator. This latest version, Zigzag R, offers an enhanced take on the classic Zigzag.mq4 that so many traders have relied on since the MT3 days.
One of the biggest headaches with the old version was testing EAs with the custom Zigzag values, which could be a real time-suck. Thankfully, this optimized version takes care of that issue.
On its first run, Zigzag R computes the entire historical data. For all subsequent uses—whether you're getting new ticks in real time or running tests—the indicator zeroes in on the third extremum from the current point and recalculates from there. If you want to start the recalculation from the second extremum instead, you can easily tweak the depth of recalculation by changing the level variable:
intlevel = 3;// depth of recalculation
Zigzag R
To keep everything consistent, all external variable names have been preserved. Additionally, the indicator has removed those pesky extremums that used to hang around on minute time frames.
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