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Ichimoku Kinko Hyo is an indicator that tracks the equilibrium of momentum and identify likely areas of support and resistance.The Ichimoku chart is composed of five (5) separate indicator lines.These lines work together to form the complete "Ichimoku picture". Telecom handel waltraud ritzer. The code is based on indicator Zig Zag which is in-built in MT4.I have changed it so that it isn't calculated on highest Highs and lowest Lows, but instead uses highest Close and lowest Close of chart price history.See attached chart for differences: Zig Zag (red) versus Zig Zag Close (yellow).
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