Greetings, The following is my idea for a Super Fast ZigZag EA using the XLab_ZZ indicator I had attached to this post. In the Pic I attached.. I opened a sell order when the XLab_ZZ indicator line angled in the pointing up position. Indicator line up means sell.. Indicator line pointing angling down means buy. See pic showing trade in progress.
This indicator repaints.. but i have never seen it repaint more then 1 timeframe bar that it was on. So if it does repaint.. at the instant it repaints.. I would place and add another position to my open trade in the same direction as the previous open trade. It would be nice if the EA could enter the market instantly on zero bar and not give up any pips on entry of the position.. but I think this may not be possible. I don't know.
At the reverse indication.. when the indicator would then post down if there was an open position or positions.. immediately the open positions would be closed and instantaneously a long position would be opened hopefully at the zero bar (zero or 1 pip loss) condition. I a repainting occurs.. another long position would be opened and so on. Like a stop and reverse EA with positions being added only at the repainting points.
Give this indicator a try and see what you think. I'm convinced this indicator will trade fine and profitably on the minute 15 if the 5 minute is too small a timeframe.
Any constructive opinions are welcome.