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Introduction Everybody who takes working on financial markets seriously, start creation of their individual trading systems earlier or later. The author of this present article created ZUP, ZigZag Universal with Pesavento Patterns, as a result of this search. The MetaQuotes Software Corp. suggested me writing an article about this indicator. This present article is the first attempt to do it. In this and in the successive articles, I will describe the features of indicator ZUP, version 60 (ZUP_v60). It happened so that Data Centers through that the author accessed to financial markets were using the MetaTrader 4 platform. The standard indicators embedded in the trading terminal did not provide necessary analyses of the market with necessary efficiency. I prefer to arrange the place where I am rather than to find another one. Therefore, I had to do so that I would be able to make all necessary market analyses using the MetaTrader 4 Client Terminal, which allows creation of one's own indicators using its embedded language, MQL4.

Pesavento Patterns ( http://www.ensignsoftware.com/tips/tradingtips35.htm#Pesavento ) On the chart below, the ZigZag breaks are joint by dotted lines. A number is given in the middle of each dotted line. These are the dotted lines with numbers near them that represent a tool named Pesavento Patterns. The tool named Pesavento Patterns must be distinguished from the market shapes named Pesavento Patterns. We will explain below what the market shape named Pesavento Patterns represents.

Again and again, we come back to the ZigZag indicator after having read some intelligent books about Elliot's wave theory, Fibo levels, Gartley's patterns, etc. An endless circle. An infinite subject to discuss.

Introduction Among all possible algorithms of zigzag charting, we can distinguish a class that the author names "Zigzags with Switching upon Breaking Through the Slowing Level". This class, in full or in part, includes most existing ZigZags. The name of the class itself, in fact, represents an algorithmic template. To make an indicator out of it, it is sufficient just to add the function that would detect the slowing level. The diversity of algorithms of such function is only limited by the imagination of the author of the future ZigZag.

A huge amount of ZigZag versions proves the existence of a constant and persistent interest in this indicator. A quite worthwhile interest. This is perhaps the only indicator that directly affects trader's emotions forcing the immediate actions with its bright vivid graphical representation of the main market movements. Apparently, this can be the only explanation of the phenomenon, with the majority's thorough understanding that this indicator is not intended for production of direct trading signals, nevertheless they continuously attempt to maximally approach it to the current market situation. Observing the endless redrawing of the last forecasting fracture is a doubtful advantage, especially when perceiving it.

ZigZag Indicator tracks and connects extreme points of the chart, the distance between these points being equal or higher than the percentage specified for the price scale.

I'm trying to determine direction of zigzag indicator with the icustom command.

This is what i have so far:

ZigZagHigh=iCustom(NULL,0,"ZigZag",MODE_HIGH,0);

Is there a way to access the "lastlow" and "lasthigh" ZigZag indicator values by using iCustom() ? I use iCustom() to access ZigZag from an EA by this Code. But the value changes tick to tick. The "lastlow" and "lasthigh" values are for the end point of the last drawn line and are fixed values until next line is drawn.

The drawing of the channel's borders was added to the standard ZigZag by MetaQuotes.

I.e. all the upper and the lower peaks are joined by lines.

The parameters are the same:

(Depth is the minimum number of bars the second maximum (minimum) less (greater) than the previous by Deviation pips won't appear on, i.e. the ZigZag can always diverge but it can converge more than by Deviation (or completely converge) only after Depth of bars. Backstep is the minimum number of bars between maximums (minimums).)

Well, and finally, the well-beloved indicator ZigZag that, as we can see from analysis, is re-counted on all bars, too, and, therefore, represents the problem in question! I suppose it to be even unnecessary to put th code of this indicator in this present article since it can always be taken from the "indicators" folder of the MetaTrader 4 Client Terminal.