I’m not really professional upon 123 Zigzag Forex Indicator however I believe that it’s seaching the reduced (for example) in the present club as much as ExtDepth intervals back again (ExtDepth pubs back). When the brand new Reduced wasn’t fould the actual sign results absolutely no (no brand new Low).
val=Low[Lowest(NULL, 0, MODE_LOW, ExtDepth, shift)];
if(val==lastlow) val=0. 0;
When the brand new Reduced had been discovered therefore the sign take a look present brand new Reduced using the prior Reduced and when the present brand new Reduced is actually greater from the prior Reduced about the ExtDeviation stage (if ExtDeviation=5 therefore in the event that brand new Reduced is actually greater prior Reduced upon 5 point) the actual sign won’t think about this brand new Reduced like a Reduced and we’ll nevertheless possess the prior 1:
if((Low[shift]-val)>(ExtDeviation*Point)) val=0. 0;
In the event that we now have a number of equivalent Levels (with exactly the same value) therefore the sign may think about the final 1 just.
When the present Reduced is actually greater than prior 1 although not much more greater after that previos Reduced in addition ExtDeviation therefore we now have the next:
for(back=1; back<=ExtBackstep; back++) This means which sign may examine from the prior club as much as ExtBackstep club.