DOWNLOAD “Forex ZUP MQ4 Trading Indicator” – The Zup indicator is set by the standard way for MetaTrader4(5). It has a lot of options, most of which can be used with the suggested values, and we configure only the most important ones:
- MinBars: minimum number of bars to calculate (or bar filter), 12 by default;
- MaxBar: measured in % for the calculation of BigLevel, 1,000 by default;
- ExtDeviation: ZigZag basic parameter, 8 by default;
- MaxDepth: the max value of Depth, to the level of which the main Depth parameter of zigzag varies during scanning (patterns search) of Gartley, 33 by default;
- ExtFiboCorrectionExpansion: takes two values: true – use of the Fibonacci extension, false – use of correction of Fibonacci, recommended to set to true;
- ExtFiboFanExp: FiboVeera number of rays, recommended to set to true;
- ExtGartleyOnOff: moved of view of Gartley patterns, usually true.
The main thing for a trader is to find the optimum point to open a position.
In working with this indicator, timeframe from M30 up to D1 is recommended with the search for a specific entry point on the M15 period.