Fractal ZigZag

The EA uses multiple indicators, "Fractals" and "ZigZag". The trades are opened when the fractals are formed on the maximum and minimum levels of the ZigZag indicator. For position trailing the EA uses a trailing stop loss with protective reverse pending order for the case if the price reverses. The stop loss with the reverse pending order are moved to the price at the distance of stop loss value until the stop loss of the open order reaches the breakeven level. After that the pending order is removed and the virtual trailing stop is activated. It has a minimum of adjustable parameters.

Adapted for 4-5-digit quotes. The EA is recommended for use on EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, USDCAD, NZDUSD, EURJPY, EURGBP, and EURCHF. The EA opens deals in Market Execution mode. Take Profit and Stop Loss are placed after order execution and modified in accordance with the EA settings. VSP is required for flawless operation, minimum deposit is 100 units of the base currency. Timeframe - M15 or higher.

Parameters:

• iZigZagDepth – shortest distance (in candles) a new maximum or minimum will be drawn at, if it differs from the previous one by ExtDeviation;
• iZigZagDeviation – minimum distance between local extrema in percentage %;
• iZigZagBackstep – the minimum number of candlesticks between the local maximal or minimal values;
• AutoLot – automatic trading lot calculation depending on the balance. Not used if set to 0;
• Lot – traded lot if AutoLot = 0;
• TakeProfit – take profit in points;
• StopLoss – initial stop loss in points;
• VirtualTrailingStop – umber of points to start virtual trailing stop;
• VirtualTrailingStep – trailing stop step;
• Magic – magic number. If 0, it works with all orders;
• Comment – order comment;
• DrawInfo – display information on the chart;
• Language – select the language to display the information on the chart:
  • _English – English;
  • _Русский – Russian;
• TextColor – text color.