PZ Turning Points MT4 can currently be located on the MQL5 marketplace within the indicators section. We have added a link below which will take you directly to the indicator that we are looking at. The indicator was uploaded to the MQL5 marketplace on the 16th of November 2019 by its creator Arturo Lopez Perez. It has not had any further updates and so it is still at version 1.0.
Overview
PZ Turning Point MT4 is an indicator that can be used with the MetaTrader 4 trading platform, the indicator works by examining the price structures of fractals over different periods of time to help determine where the possible reversal points are in the markets. The indicator will help find reversals fractals on a zig-zag formation and will ignore those that do not carry enough momentum to have a sustained price movement.
Some of the features of the expert advisor:
- Turning points can start long trends
- The indicator is non-repainting
- It implements alerts of all kinds
- Customizable colors and size
The indicator also has some parameters that can be altered:
Min Fractal: Minimum amount of bars on a fractal. Must be an odd number such as 3, 5, 7, 9, 11, 13,…
Max Fractal: Maximum amount of bars on a fractal. Must be an odd number such as 3, 5, 7, 9, 11, 13…
Max History Bars: Amount of past bars to evaluate when the indicator loads.
Colors: customize arrows and lines colors and sizes.
Alerts: Enable or disable alerts of all kinds.
Service Cost
The indicator will currently cost you $49 to purchase it outright, this will give you access to the indicator without any limitations or restrictions. Many indicators on the MQL5 marketplace offer the opportunity to rent them, this is not the case with the PZ Turning Point MT4 which can only be purchased outright. There is a free demo version available, this will have some limitations attached to it but the site does not currently state that the limitations are, it is always worth downloading to try out though.
Conclusion
Just the one review s available, it is not a positive one and it is giving the indicator a rating of just one out of five.
“This indicator gives a signal by the end of the candle but calculates the profit from the beginning of the candle, it is not possible to get the same results.”
So the review doesn’t put the indicator in the best of light, there is also one comment, the developer did reply to it promptly which is good to see. Due to the low rating, we would highly suggest that you download the free version to try out, while it will have some limitations, it will allow you to make sure that it does what you need it to prior to making a purchase, you coulda also contact the developer with any queries that you may have.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/41608
