ZigZagOnParabolic is a custom MT4/MT5 indicator coded by EarnForex.com. The indicator takes the classic Parabolic SAR indicator and uses its reversal as a cue for the zigzag's peaks and troughs.
The indicator can display the peaks and troughs both on the actual maximum/minimum time and on detection time. Alerts are also included.
More information about this custom MetaTrader indicator is available here: https://www.earnforex.com/metatrader-indicators/ZigZagOnParabolic/
Any contributions to the code are welcome!