Simple Zig Zag
Automation of many constructions, including even such simple, as the construction of channels, determining the trend (higher highs / lower lows) or, finally, the use of nets Fibonacci, requires the allocation of “pure motion”, that is, pass rates from the local minimum to the local maximum and from a local maximum to a local minimum.
The task of isolating pure movements perfectly solves a tool such as ZigZag, included in the standard delivery set of MetaTrader.
At the same time, staff ZigZag has a number of drawbacks.
- ZigZag constantly redraws itself as you build, which is inconvenient from the standpoint of use in trading algorithms,
- the algorithm used in the indicator includes several nested loops, which can significantly slow down the process of optimization advisor, using this indicator is at its core,
- fine-tune the display by three parameters that have significantly lengthens the optimization process, taking into account that a change in one parameter changes the effect of the other, the optimization process can not find steady extreme.
With this in mind, I propose a much simpler algorithm of allocation of the net passes.
The proposed algorithm is characterized in that
- contains nested loops, and all calculations are performed during the admission of new price data,
- not redraw itself, a certain reversal and will steer,
- It contains only one parameter – the typical length of the passage (for convenience is given different on different timeframes).
In this case, the visual indicator solves the problem, but it highlights the local maxima and minima, and draws clear passage between them.
With this tool, it is possible to build a simple expert, using basically the Fibonacci correction. In particular, the illustrated screenshot quite visually discernible pulse, and correctional movement, which is very important for building advisor, using Fibonacci in your trading.
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