Zex-Indicator is made for low TF’s and very suitable for scalping.
For example use a 5 min TF as leading TF and scalp with a 3 or 4 min TF.
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///Zigo 10/07/2020 a=SMI[12,6,5](close) b=triangularaverage[5](a) zex=1.682*(a-b) T= time/10 if zex crosses over 0 then DRAWTEXT("time#t#", barindex, -25, dialog, standard, 15)coloured(0,125,175,255) elsif zex crosses under 0 then DRAWTEXT("time#t#", barindex, +25, dialog, standard, 15)coloured(255,25,75,255) endif Return a as "BasicLine", b as"CrossLine",zex as "Histogram" |
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very interesting indicator 😉 thanks a lot.
I Think so!!! Thanks!
Please I’m using mt4
How do i convert the file to mql4
Hello Zigo can you turn into an automatic strategy?
Hey @Zigo thanks for this indicator. May I ask what the multiplier 1.682 is derived from? I tried changing it to 1.618 (golden ratio) and the results are identical.
Hello, eckaw, its not so important I had meant 1.618 and not 1.682. It has nothing to do with the golden ratio, if you set multiplier on 2 its also ok.
Zex crossing over/under zero its the same as “a” crosses over/under “b”.