Hi Everybody, This cTrader indicator (code below) is called SwingZigZag, fundamentally it gets used as a traditional zig zag indicator, but if I am correct from looking at the code (and I am no coder) it seems to take the highest high of the pre-defined period and then draw a diagonal low to the next lowest-low and so on, to create a zig zag. However a traditional zig zag indicator looks for a predetermined amount of minimum movement over a continuous period and then plots the points of the zig zag based on the maxima of that movement, before starting to count the movement in the opposite direction.
So the indicator below seems to be based on the x-axis (extremum over time), and normal zig-zag is based on the y-axis, extremum of price.
Does anybody know of an MT4 indicator that works the same as below (assuming I have interpreted the way it is working correctly).
Thanks.
So the indicator below seems to be based on the x-axis (extremum over time), and normal zig-zag is based on the y-axis, extremum of price.
Does anybody know of an MT4 indicator that works the same as below (assuming I have interpreted the way it is working correctly).
Thanks.
Inserted Code
//+------------------------------------------------------+
//| The ZigZag indicator based on swing high low points. |
//+------------------------------------------------------+
#region Using declarations
using System;
using cAlgo.API;
using cAlgo.API.Internals;
using cAlgo.API.Indicators;
using cAlgo.Indicators;
#endregion
namespace cAlgo.Indicators
{
[Indicator(IsOverlay = true, AutoRescale = true, AccessRights = AccessRights.None)]
public class SwingZigZag : Indicator
{
#region Properties
[Parameter()]
public DataSeries High { get; set; }
[Parameter()]
public DataSeries Low { get; set; }
[Parameter("Period", DefaultValue = 20, MinValue = 1)]
public int Period { get; set; }
[Output("ZigZag", Color = Colors.Blue, Thickness = 2, PlotType = PlotType.Line)]
public IndicatorDataSeries ZigZag { get; set; }
[Output("Swing High", Color = Colors.Gray, Thickness = 1, PlotType = PlotType.Points, LineStyle = LineStyle.Lines)]
public IndicatorDataSeries SwingHigh { get; set; }
[Output("Swing Low", Color = Colors.Gray, Thickness = 1, PlotType = PlotType.Points, LineStyle = LineStyle.Lines)]
public IndicatorDataSeries SwingLow { get; set; }
#endregion
#region Variables
private double currentZigZagHigh = 0;
private double currentZigZagLow = 0;
private int lastSwingIndex = -1;
private double lastSwingPrice = 0.0;
private int trendDir = 0;
private int CurrentBar;
#endregion
protected override void Initialize()
{
}
public override void Calculate(int index)
{
CurrentBar = High.Count;
if (CurrentBar < 2)
return;
if (lastSwingPrice == 0.0)
lastSwingPrice = Low[index] + (High[index] - Low[index]) / 2;
bool isSwingHigh = High[index] == Functions.Maximum(High, Period);
bool isSwingLow = Low[index] == Functions.Minimum(Low, Period);
double saveValue = 0.0;
bool addHigh = false;
bool addLow = false;
bool updateHigh = false;
bool updateLow = false;
if (!isSwingHigh && !isSwingLow)
{
return;
}
if (trendDir == 1 && isSwingHigh && High[index] >= lastSwingPrice)
{
saveValue = High[index];
updateHigh = true;
}
else if (trendDir == -1 && isSwingLow && Low[index] <= lastSwingPrice)
{
saveValue = Low[index];
updateLow = true;
}
else if (trendDir <= 0 && isSwingHigh)
{
saveValue = High[index];
addHigh = true;
trendDir = 1;
}
else if (trendDir >= 0 && isSwingLow)
{
saveValue = Low[index];
addLow = true;
trendDir = -1;
}
if (addHigh || addLow || updateHigh || updateLow)
{
if (updateHigh && lastSwingIndex >= 0)
{
SwingHigh[lastSwingIndex] = double.NaN;
ZigZag[lastSwingIndex] = double.NaN;
}
else if (updateLow && lastSwingIndex >= 0)
{
SwingLow[lastSwingIndex] = double.NaN;
ZigZag[lastSwingIndex] = double.NaN;
}
if (addHigh || updateHigh)
{
currentZigZagHigh = saveValue;
SwingHigh[index] = currentZigZagHigh;
ZigZag[index] = currentZigZagHigh;
}
else if (addLow || updateLow)
{
currentZigZagLow = saveValue;
SwingLow[index] = currentZigZagLow;
ZigZag[index] = currentZigZagLow;
}
lastSwingIndex = CurrentBar - 1;
lastSwingPrice = saveValue;
}
}
}
} 
