Zigzag Indicator Drawing with Outside-Bar Handling

Summary

This document explains a MetaTrader Zigzag indicator variant that demonstrates the DRAW_ZIGZAG plotting style. Unlike a section-based plot that connects points only when they occur on different bars, this style uses two buffers and removes that restriction. The indicator also handles an outside bar, where the current bar's high exceeds earlier highs while its low falls below earlier lows.

The text identifies the implementation as a port of an earlier MQL4 indicator, first published in 2007. It offers a brief description of chart-drawing behavior rather than a trading rule, signal interpretation, or test of predictive value. As with Zigzag indicators generally, the document does not discuss whether plotted turning points remain stable as new price data arrives or provide evidence of strategy performance.

Key ideas

• The indicator demonstrates the DRAW_ZIGZAG style using two plotting buffers.
• This drawing style can connect points on the same bar.
• The implementation includes handling for bars that set both a higher high and a lower low.
• The document describes visualization behavior and gives no trading performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.