The ZigZag Indicator is known for always repainting the last/new line. That is, from when the new line first appears, almost always this line grows longer.
I want to quantify how much this line extends for. That is, I want to get an idea on the average number of pips it repaints by; so marking the chart with the price when it first forms would be great.
Even better would be an on-chart number of pips from when it first created the new line to when the line becomes stable.
With this average of repaint-pips known, I think I can code an EA for it trade profitably. But for now I am having trouble understanding the buffer concepts in MQL.
The EA I have in mind would set limit orders "x-pips" away from when the line is first created - the limit order expiring if an even newer line is created.
These limit orders would be set with a take-profit at the average repainted pips in the last z-number bars.
Any ideas would be appreciated.
I want to quantify how much this line extends for. That is, I want to get an idea on the average number of pips it repaints by; so marking the chart with the price when it first forms would be great.
Even better would be an on-chart number of pips from when it first created the new line to when the line becomes stable.
With this average of repaint-pips known, I think I can code an EA for it trade profitably. But for now I am having trouble understanding the buffer concepts in MQL.
The EA I have in mind would set limit orders "x-pips" away from when the line is first created - the limit order expiring if an even newer line is created.
These limit orders would be set with a take-profit at the average repainted pips in the last z-number bars.
Any ideas would be appreciated.
Attached File(s)
ZigZag.mq4
6 KB
|
461 downloads