zigzag indicator currency trading... H4 timeframe, and above

Hi Richterzoo, the methodology is as follows.. when the custom swing zz indicator is in agreement with the parabolic indicator on the H4 timeframe, (default settings for both indicators) for the eur/usd.. then a position is opened in the direction that both indicators agree upon. When 1 or both fall out of agreement.. then the position is closed. So far the eur/usd pair on the 4 hour seems to work best for me. I state so far, because much more trades need to be completed by this EA to prove consistancy of profitability. This EA I am not sharing, however I just shared the methodology, and in this thread I share the programming company I used to make this EA. I hope this information helps you and others to make money trading.. but I am not giving away my EA. One similiar can be made for a small amout of money by a professional programmer. Best of luck.

what does it mean "in the agreement"? I fully understand you don't wanna share your EA, but could you post a picture where you will show how are they in the agreement?
thanks

Hi kukuso, agreement means when both indicators being used indicate a buy or a sell at the same time on the chart that they are on.

I had so far a straight run of winners, and then a straight run of losers with this EA. Until I can find the time to optimize it correctly.. I am going to shut it down from trading on Sunday. Instead, I am going to run a different new EA I just had made to trade the account starting Sunday. This new EA is my last attempt.. It enters a trade on a ema cross confirmation and then closes on a fractal signal. If this new EA seems to have no potential to be profitable.. Then I quit forex, I am done.

The zig zag indicator does not repaint. It does what it is suppose to according to the way it is set. It will only do what it can, it will never do more.

ZigZag
Introduction

The ZigZag feature on SharpCharts is not an indicator per se, but rather a means to filter out smaller price movements. A ZigZag set at 10% would ignore all price movements less than 10%. Only price movements greater than 10% would be shown. Filtering out smaller movements gives chartists the ability to see the forest instead of just trees. It is important to remember that the ZigZag feature has no predictive power because it draws lines base on hindsight. Any predictive power will come from applications such as Elliott Wave, price pattern analysis or indicators. Chartists can also use the ZigZag with retracements feature to identify Fibonacci retracements and projections.
Calculation

The ZigZag is based on the chart "type." Line and dot charts, which are based on the close, will show the ZigZag based on closing prices. High-Low-Close bars (HLC), Open-High-Low-Close (OHLC) bars and candlesticks, which show the period's high-low range, will show the ZigZag based on this high-low range. A ZigZag based on the high-low range is more likely to change course than a ZigZag based on the close because the high-low range will be much larger and produce bigger swings.

The parameters box allows chartists to set the sensitivity of the ZigZag feature. A ZigZag with 5 in the parameter box will filter out all movements less than 5%. A ZigZag(10) will filter out movements less than 10%. If a stock traded from a reaction low of 100 to a high of 109 (+9%), there would not be a line because the move was less than 10%. If the stock advanced from a low of 100 to a high of 110 (+10%), there would be a line from 100 to 110. If the stock continued on to 112, this line would extend to 112 (100 to 112). The ZigZag would not reverse until the stock declined 10% or more from its high. From a high of 112, a stock would have to decline 11.2 points (or to a low of 100.8) to warrant another line. The chart below shows a QQQQ line chart with a 7% ZigZag. The early June bounce was ignored because it was less than 7% (black arrow). The two pullbacks in July were ignored because they were much less than 7% (red arrows).
http://d.stockcharts.com/school/data...1-qqqqexam.png
Be careful with the last ZigZag line. Astute chartists will notice that the last ZigZag line is up even though QQQQ advanced just 4.13% (43.36 to 45.15). This is just a temporary line because QQQQ has yet to reach the 7% change threshold. A move to 46.40 is needed for a gain of 7%, which would then warrant a permanent ZigZag line. Should QQQQ fail to reach the 7% threshold on this bounce and then decline below 43, this temporary line would disappear and the prior ZigZag line would continue from the early August high.
http://d.stockcharts.com/school/data...2-qqqqexam.png

It is a risky strategy....considering there being repaints. The zig-zag indicator is great to have to help you make trading decisions...but it shouldn't be used as a signal to enter or exit.

I have staying away from ea's and have had better testing results just taking trades manually on the H4 and daily using moving average cross. I want to attach the Indy's I am testing now so I can link it to my blogger page cause blogger doesn't allow direct file download there..

The SupportResistance.ex4 indicator that I previously attached and was testing .... FAILED the testing in my opinion. It repaints badly on the 5Min. and now I watched it repaint on the 15. The MA2_Signal_ver2 indicator is not perfect but so far this one is OK . I'm still testing it. I did not form a conclusion though..

Hi Tdhowl,

Thanks for your sharing. Are you still using swing zz indicator or EA based on it? I saw you mentioned stayed away EA, may I ask the reason. Thanks for your time.