Road Map – indicator for MetaTrader 4

Image: Road Map MT4 indicator applied over Reliance HDFC Bank Equity – Daily chart

The indicator shows:

  • impulse waves (bold sloping lines);
  • corrective waves (thins sloping lines);
  • upward wave series (blue color);
  • downward wave series (purple color);
  • wave series length (the numbers near the Zig Zag vertices);
  • wave series breakthrough levels (short green and red lines);
  • targets for Take Profit (the Fibonacci grid from the start of the wave series).

The Zig Zag is non-standard, the idea for plotting was taken from the wave theory of Stanislav Chuvashov

The green numbers are the time fractals that can change on further price movement.

In the input parameters it is possible to change the number of the output Zig Zag bars (Max_Bars), colors of the lines and numbers, as well as the indicator display modes.

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