Does anyone have the capabilities to modify the Zigzag indicator? (MT4, and possibly MT5 if MT4 works)
Modifications:
Overall:
New horizontal lines to be drawn at the pivot of the zigzag.
Alerts to be triggered, and sent to screen, (or optionally, possibly to an email.)
Specifics:
Take the original MT4 Zigzag indicator and modify as follows:
1: From each point the indicator creates a zig or zag (that is, a clear direction change has been noted)
draw a horizontal line from that "pivot" point and extend to the right of the chart.
2: Add new manual inputs to the zigzag indicator, such that:
2a: User can input an integer variable, for pip-range.
If price returns to within [variable] pips of the pivot horizontal line, an alert to appear that price is within range of interest.
For example, if a zigzag pivot is at 1.2000, and price is at 1.2100, and the user-input is 10, an alert should trigger of price falls back to 1.2010.
(price returns to within 10 pips of previous pivot)
2b: User can enter an integer variable for bar-counts.
This variable will determine how far back the number of bars the indicator to look to display horizontal lines.
(this is to prevent limitless horizontal lines appearing.
For example, if user is using 1hr bars, and enters 48 , indicator will only show horizontal lines of zigzags going back 48 bars)
Screen-shot that hopefully illustrates the idea.
Modifications:
Overall:
New horizontal lines to be drawn at the pivot of the zigzag.
Alerts to be triggered, and sent to screen, (or optionally, possibly to an email.)
Specifics:
Take the original MT4 Zigzag indicator and modify as follows:
1: From each point the indicator creates a zig or zag (that is, a clear direction change has been noted)
draw a horizontal line from that "pivot" point and extend to the right of the chart.
2: Add new manual inputs to the zigzag indicator, such that:
2a: User can input an integer variable, for pip-range.
If price returns to within [variable] pips of the pivot horizontal line, an alert to appear that price is within range of interest.
For example, if a zigzag pivot is at 1.2000, and price is at 1.2100, and the user-input is 10, an alert should trigger of price falls back to 1.2010.
(price returns to within 10 pips of previous pivot)
2b: User can enter an integer variable for bar-counts.
This variable will determine how far back the number of bars the indicator to look to display horizontal lines.
(this is to prevent limitless horizontal lines appearing.
For example, if user is using 1hr bars, and enters 48 , indicator will only show horizontal lines of zigzags going back 48 bars)
Screen-shot that hopefully illustrates the idea.