Ram Nisha

Writer:

Ram Nisha
Rajesh  Sharma

Reviewer:

Rajesh Sharma
Modified:
2,577

ZP Day Trading Indicator in MT4 Download - Free - [TradingFinder]

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MetaTrader4

MetaTrader5
$3FreeFor a limited time
ZP Day Trading Indicator in MT4 Download - Free - [TradingFinder]
ZP Day Trading Indicator in MT4 Download - Free - [TradingFinder] 0
ZP Day Trading Indicator in MT4 Download - Free - [TradingFinder] 1
ZP Day Trading Indicator in MT4 Download - Free - [TradingFinder] 2
ZP Day Trading Indicator in MT4 Download - Free - [TradingFinder] 3
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The ZP Day Trading Indicator identifies price range zones and displays them using colored boxes on the chart. Price fluctuations within a defined area, between a support and resistance zone, form the trading range zone.

This MT4 signal and prediction indicator is developed based on the Price Action trading style and, besides marking the zones, provides entry signals for trades.

ZP Day Trading Indicator Specifications

The table below provides an overview of the main specifications of the indicator:

Indicator Categories:
Price Action MT4 Indicators
Signal & Forecast MT4 Indicators
Trading Assist MT4 Indicators
Platforms:
MetaTrader 4 Indicators
Trading Skills:
Elementary
Indicator Types:
Range MT4 Indicators
Breakout MT4 Indicators
Reversal MT4 Indicators
Timeframe:
Multi-Timeframe MT4 Indicators
Trading Style:
Day Trading MT4 Indicators
Scalper MT4 Indicators
Swing Trading MT4 Indicators
Trading Instruments:
Share Stocks MT4 Indicators
Indices Market MT4 Indicators
Commodity Market MT4 Indicators
Stock Market MT4 Indicators
Cryptocurrency MT4 Indicators
Forex MT4 Indicators

Buy Signal in an Uptrend

When the price breaks above the range zone, the indicator highlights the area with a blue box and generates a buy signal with a light blue arrow.

The chart of the GBP/USD currency pair on a 1-hour timeframe demonstrates the indicator's functionality during an uptrend.

Uptrend Analysis
Buy signal on GBP/USD chart

Sell Signal in a Downtrend

Based on the price chart analysis of the EUR/USD currency pair on a 4-hour timeframe, when the price breaks below the range zone, the indicator marks the area with a red box and issues a sell signal using a red arrow.

Downtrend Analysis
Sell signal on EUR/USD chart

ZP Day Trading Indicator Settings

This section includes options for modifying the display parameters of the tool:

Indicator Settings
Reviewing ZP Day Trading Indicator Settings
  • Chart theme: Indicator theme;
  • Min range: Minimum range for data analysis; default value 5;
  • Max range: Maximum range for data analysis; default value 30;
  • Display analysis: Show analytical information on the chart;
  • Display profits: Display profit and loss amounts on the chart;
  • Analysis color: Color for the displayed analytical insights on the chart;
  • Profits color: Color representing profit;
  • Bull color: Color for bullish boxes;
  • Bear color: Color for bearish boxes;
  • Alert message: Alert with a message;
  • Alert email: Alert via email;
  • Alert sound: Sound alert;
  • Look back: Number of candles analyzed for calculations; default: 1000.

Conclusion

The ZP Day Trading Indicator identifies accumulation zones and balance areas between buyers and sellers, known as range zones, on the chart and provides signals for trade entries.

This MT4 cycles indicator is designed based on the Price Action trading style and can be used across all markets.

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FAQs

Does using this indicator require specific skill levels?

No, this indicator is suitable for traders of all skill levels.

Can the settings of this indicator be customized?

Yes, the settings of the "ZP" indicator are fully customizable.

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