Zig Zag Wave Size
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Zig Zag Wave Size
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Overall Improvements:
Code adaptation for MetaTrader 5
Optimised work with graphical objects
New:
Horizontal levels on extrema
Selecting the type of levels: horizon/beams/sections
Liquid levels filter (not broken by price)
Breakout buffer: setting sensitivity to false breakouts
Labels customisation and functionality: number, appearance, deleting old labels
Structure breakdown alerts (BoS)
Change of motion pattern alerts (ChoCH)
Optimisation:
Fix extremum update logic
Dynamic update of new objects
Load reduction when bars appear
Centralised label system
Fixes:
Fixed array overruns
Correct positioning of labels
Removed duplicate parameters
