Updated: Nov 22
Today I want to share a simple and quite profitable ZigZag strategy with you. This EA works with the original ZigZag indicator from metatrader4 or metatrader5. Actually it's a very simple and productive strategy. The main principle of the strategy is pending orders once per day, EA places 2 pending orders everyday at midnight:
Buy pending order - always is placed on zigzag higher high price.
Sell pending order - always is placed on zigzag lower low price.
Once order is opened, a trailing stop will be used to lock all the profit safely.
If order wasn't reached, then he will be closed on Friday evening, so the next week will start from zero.
Example of how pending orders are placed
You can watch testing video below, this is how it looks on GBPUSD H4 2010-2018
Few examples how strategy backtesting looks like from 2010 - 2018
Inputs menu :
Risk - set your desirable
Stop loss in pips - set a fixed stop loss size in pips (default 14 pips)
Take profit in pips - set a fixed stop loss size in pips (default 21 pips)
Slippage - permissible slippage for opening an order (default 2 pips)
Open time for pending orders - at this time will be open an orders (default 00:15)
Delete pending orders at Friday - at this time order will be deleted at Friday (default 20:00)
Trailing stop in pips - set your desirable trailing stop in pips (default 5 pips)
Trailing step in pips - set your desirable trailing step in pips (default 1 pips)
Trailing start in pips - set your desirable trailing start in pips (default 5 pips)
ZigZag settings - bellow set settings for zigzag indicator
Depth - default 12
Deviation - default 5
Backstep - default 3
Try demo for free
Buy full version
You will get MT4 MT5 versions
Works with any timeframe
Works with any market
Friendly settings menu
Easy to set up
There are no any restrictions
You will get "Access 1 Month" plan for free. Plans
Also I recommend to take a look at other paid EA's Here