This indicator shows the formation of the Dow Theory at a glance.

*ZigZag is used for high and low prices.

Get the 4 most recent highs and lows (not push lows or return highs).

2 previous high < 1 previous high and 2 previous low < 1 previous low

High 2 high > 1 previous high and Low 2 low > 1 previous low

The decision is made in the following manner.

*This is not a guarantee of a perfect Dow Theory.

　If you set up Zigzag so that small peaks and valleys are not created 　push-low close to the return-high.

Setting items High line: Color of the high line when the Dow is established. Low line・・・・Color of the low line when the Dow is established Dow failure・・・・Color of the line when the Dow fails Line width・・・・Thickness of the line zigzag setting

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*Precautions 　We do not compensate for special items such as Gold, Futures, Bitcoin, etc.

【MT4】ダウ理論の成立表示・ライン自動表示インジケーター