Why I avoid ZigZag and Fractals? – Analytics & Forecasts – 21 December 2023
if you want to code something, you always look for options such as ZigZag, Fractals, Moving average and other ways to find peak and troughs so you can make things a little bit easy.
But they may not be the highest accurate solutions for your patterns
Since more advanced ways of trading are already discovered and shared over internet which are used by banks, you may have to rethink the logic for coding peaks and troughs since they are the most important. There are many searching algorithms such as Directional, Sequentional, Random, Weightage based and others.
I saw some Hamonic patterns mql5 code, they are all good but the logic to plot them may not be accurate and if you still use it may bring failure to your trades.
The logic behind it is that there are different search algorithms and to make a winning strategy you have to always think about custom solutions which are not yet developed.
MQL is best language to output signals from your brain to MetaEditor resulting as a functional program.
The major problem I avoid using ZigZag for my base is that you cant be sure about the ExtDepth and ExtDeviations until you research on that. So to solve this problem, a trader may approach another solutions such as developing other custom based searching algorithm for plotting patterns such as harmonics.
They are mostly price action based.
I avoid using Fractals too because it is not a clear way to represent a price activity.
Screenshot of some advanced concepts which focus on Mitigated and unmitigated way to plot harmonics
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