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Zigzag in ticks coloured by Dow Theory
Zigzag by number of ticks
It's colored following the trend according to Dow's theory that in order to have a bullish trend we need rising tops and bottoms and bearish trend we need falling tops and bottoms!
data:
Buffer 1: Line data
Buffer 2: Line's color
Buffer 3: Last Breakpoint (Most recent break)
Buffer 4: Last Last Breakpoint
Buffer 5: Last Last Last Break Point
Buffer 6: Last x 4 Break Points (to conclude the pivot)
Buffer 7: Price / Wave / Leg Direction (-1 Low, 0 Undefined, 1 High)
Buffer 8: Direction of the trend or where are the tops and bottoms taking us? (-1 low, 0 undefined and 1 high)
![Zigzag in ticks coloured by Dow Theory]( "Zigzag in ticks coloured by Dow Theory")
![Zigzag in ticks coloured by Dow Theory]( "Zigzag in ticks coloured by Dow Theory")
ta itemprop="image" content="https://c.mql5.com/31/382/zigzag-by-ticks-with-color-by-dow-theory-screen-8901.PNG" />
It's colored following the trend according to Dow's theory that in order to have a bullish trend we need rising tops and bottoms and bearish trend we need falling tops and bottoms!
data:
Buffer 1: Line data
Buffer 2: Line's color
Buffer 3: Last Breakpoint (Most recent break)
Buffer 4: Last Last Breakpoint
Buffer 5: Last Last Last Break Point
Buffer 6: Last x 4 Break Points (to conclude the pivot)
Buffer 7: Price / Wave / Leg Direction (-1 Low, 0 Undefined, 1 High)
Buffer 8: Direction of the trend or where are the tops and bottoms taking us? (-1 low, 0 undefined and 1 high)
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