ZigZag Trend-Line Forex EA with Touch Entries and Risk Controls

Summary

The document describes a forex expert advisor that uses ZigZag swing highs and lows to identify support and resistance, then updates trend lines as price structure changes. When price approaches or touches a line, the EA may take a buy or sell position according to its settings. Listed controls include stop loss, take profit, trailing behavior, position limits, spread limits, time windows, and weekend closing; ATR, stochastic, and CCI or RSI settings are also exposed. The author recommends an hourly chart and EUR/USD, with broker and account suggestions.

The page reports a maximum drawdown of 14% and a profit factor of about 6.5, but gives no test period, sample size, trading costs, benchmark, or verification method for these figures. ZigZag swing points can change as later prices arrive, so a line-based signal may behave differently in live trading than in historical analysis. The parameter list explains configuration options but does not fully specify entry, exit, or position-sizing rules.

Key ideas

• The EA derives support and resistance trend lines from ZigZag swing highs and lows.
• A price touch of a line can trigger a buy or sell decision based on configured direction and conditions.
• The listed controls cover stops, targets, trailing behavior, order limits, spreads, and trading hours.
• The reported performance figures are not accompanied by a test period or verification details.
• ZigZag swing points can be revised as new price data arrives, affecting historical signal interpretation.

Tags

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