Zig Zag Multi indicator for MetaTrader 4 Download - Free - [Trading Finder]

Introduction

The Zig Zag Multi indicator is one of the indicators available for MetaTrader 4. This indicator is designed to identify price direction changes and provide a clear trend on financial charts. It draws zigzag lines, clearly displaying valleys and peaks to traders. By using this practical tool, traders can identify more appropriate Entry and Exit points for entering trades.

Indicator Specifications Table

Overview of the Indicator

The Zig Zag Multi indicator allows traders to view the main market trends displayed as zigzag lines on the chart, enabling them to predict potential price fluctuations. This indicator also allows traders to add three zigzag lines "long-term, medium - term, and short - term" simultaneously on the chart.

Uptrend Conditions

The 30-minute price chart of the AUD/USD currency pair demonstrates how this indicator performs under uptrend conditions. In the Zig Zag Multi indicator, uptrend conditions can be identified by the formation of higher lows (HL), the break of previous highs, the formation of higher highs (HH), and the angle intensity between peaks and valleys drawn by the indicator.

Downtrend Conditions

The 1-hour price chart of the EUR/USD currency pair demonstrates how the indicator performs under downtrend conditions. In the Zig Zag Multi indicator, downtrend conditions can be identified by the formation of Lower Highs (LH), the break of previous lows, the formation of Lower Lows (LL), and the angle intensity between peaks and valleys drawn by the indicator.

Settings

• Show Long-Term Zig Zag Line: The long-term zigzag line is enabled;
• Pivot Period Long Term Zig Zag Line: The number of candles between peaks and valleys is set to 9;
• Long-Term Zig Zag Line Style: The long-term zigzag line style is Solid;
• Long-Term Zig Zag Line Color: The long-term zigzag line color is Blue;
• Long-Term Zig Zag Line Width: The long-term zigzag line width is 2;
• Show Long-Term Label: The label for peaks and valleys is enabled;
• Long-Term Label Color: The label color is set to Blue;
• Long-Term Zig Zag Label Size: The label size is set to 12;
• Show Medium-Term Zig Zag Line: The medium-term zig zag line is enabled;
• Pivot Period Medium Term Zig Zag Line: The number of candles between peaks and valleys is set to 6;
• Medium-Term Zig Zag Line Style: The medium-term zigzag line style is Solid;
• Medium-Term Zig Zag Line Color: The medium-term zig zag line color is Light Blue;
• Medium-Term Zig Zag Line Width: The medium-term zigzag line width is set to 1;
• Show Medium Term Label: The label for peaks and valleys is enabled;
• Medium Term Label Color: The label color is set to Light Blue;
• Medium Term Zig Zag Label Size: The label size is 10;
• Show Short-Term Zig Zag Line: The short-term zig zag line is enabled;
• Pivot Period Short Term Zig Zag Line: The number of candles between peaks and valleys is set to 3;
• Short-Term Zig Zag Line Style: The short-term zigzag line style is Solid;
• Short-Term Zig Zag Line Color: The short-term zigzag line color is red;
• Short-Term Zig Zag Line Width: The short-term zigzag line width is set to 1;
• Show Short-Term Label: The label for peaks and valleys is enabled;
• Short-Term Label Color: The label color is set to Red;
• Short-Term Zig Zag Label Size: The label size is set to 8.

Summary

The Zig Zag Multi indicator is a practical tool for all financial markets, including Forex and cryptocurrency, on MetaTrader 4. It is easy to use, and even beginner traders can take advantage of it. The Zig Zag Multi indicator is multi-timeframe compatible and provides traders with a clear view of trend movements.