ZigzagColor_Channel - MetaTrader 5 Script - MT4/MT5 Resource
This indicator plots a standard zigzag by connecting the price peaks to the bottoms during the period.
It draws the channel by connecting the ZigZag peak and ZigZag bottom. The colors look good with black and white background.
Attachment download
📎zigzagcolor_channel.mq5 (9.41 KB)
Source: MQL5 #246
ZigzagColor_Channel - MetaTrader 5 script usage and filtering suggestions
ZigzagColor_Channel - MetaTrader 5 script is a resource related to Forex indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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