If you are looking for a zigzag indicator MT4, you’ve come to the right place. To download the MT4 zigzag indicator, you have to scroll all the way to the bottom, the download link is there.
THE PROBLEM WITH THE DEFAULT ZIGZAG INDICATOR IN YOUR MT4 TRADING PLATFORM
Here’s the problem: the default zigzag indicator given in MT4 trading platform does not really capture most of the highs and lows on a chart do draw zigzags.
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On the chart below, notice that some of the high and lows of price have been missed to draw zigzags by this default zigzag indicator:
It is not so apparent until you compare default zigzag indicator to the Swing_ZZ indicator, which in my opinion is the best zigzag MT4 indicator on the planet at the moment.
Have a look on the two charts below when placed side by side, which zigzag indicator do you think you will choose?
SWING ZIGZAG INDICATOR
The swing zigzag indicator is the best zigzag mt4 indicator because it captures most of the swing highs and swing lows of price action to draw zigzags.
And with these zigzags, you can:
- use to draw trendlines
- use to draw channels
- identify support and resistance levels
- even identify chart patterns like the head and shoulders pattern.
- use them to place stop loss order
- use them to adjust your trailing stop loss.
As you can see, there’s a handful of things you can do with this zigzag forex indicator.
HOW TO ADJUST THE SWING ZIGZAG MT4 INDICATOR SETTINGS TO GET MORE ACCURACY
The thing I like about the swing zigzag indicator is that you can adjust the setting to get more accuracy.
Here’s how to adjust the settings:
- right click on your chart where the swing zigzag indicator has been upload and click “indicators list” and this will bring up a window with a list of all the indicators you have on that chart.
- Find Swing_ZZ and double click it and this will open up the second window
- In the second winder, By default, in the “inputs” tab, the “minBars” is set to 2. By changing this number to 1, you get more accuracy. By increasing this number to 3 or 4, the accuracy decreases because it will only pick those significant swing highs and lows to draw zigzags.
- Then click “Ok” and this will close the 2nd window then you are only left with the first winder and you click”close”
So lets compare a few charts to see how the accuracy changes when you change the “minBars”:
As you can see:
- if you want to get more accuracy, then change minBars to 2 and this will make the zigzag indicator pick up even the smallest swing highs and lows of prices to draw zigzags.
- if you want to only focus on the major swing highs or lows to draw zigzags, increase minBars to 3.
FOREX ZIGZAG STRATEGIES
Here are list of “zigzag” forex trading strategies…What I actually mean is that this swing zigzag indicator can become a very handy tool to use with these forex trading strategies listed below:
- Trendline Trading Strategy
- Broken Trendline Retest Forex Trading Strategy
- Trendline Breakout Forex Trading Strategy
- Support and Resistance Forex Trading Strategy
- Head and Shoulders Pattern Trading Strategy
- Symmetrical Triangle Pattern Forex Trading Strategy
- Support Level Breakout Forex Trading Strategy
- Resistance Level Breakout Forex Trading Strategy
- Ascending Triangle Pattern Forex Trading Strategy
- Descending Triangle Pattern Forex Trading Strategy
- 123 Forex Trading Strategy
DOWNLOAD LINK FOR THE ZIGZAG MT4 INDICATOR
Here is the download link for the mt4 zigzag indicator: Swing_ZZ
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