Zigzag Multi indicator for MetaTrader 5 Download - Free - [Trading Finder]

Introduction

The Zigzag Multi indicator is one of the practical tools for identifying price trend changes in MetaTrader 5. This indicator uses zigzag lines to simplify price trends and labels each peak and valley. Using this indicator allows for better identification of entry and exit points for trades.

Indicator Specifications Table

Zigzag Multi Indicator in an Uptrend

The one-hour price chart of Solana (SOL) cryptocurrency shows the performance and features of the Zigzag Multi indicator. Features in the uptrend include the break of previous highs, formation of higher highs (HH), and higher lows (HL). All these features indicate an uptrend, and the intensity of the zigzag line angles also shows the trend strength.

Zigzag Multi Indicator in a Downtrend

The 1-hour price chart of Silver against the US Dollar (XAG/USD) shows the performance and features of the Zigzag Multi indicator. Features in the downtrend include the break of previous lows, formation of Lower Highs (LH), and Lower Lows (LL). All these features indicate a downtrend, and the intensity of the zigzag line angles also shows the trend strength.

Settings

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

Summary

The Zigzag Multi indicator in MetaTrader 5 is useful for identifying price fluctuations and determining peaks and valleys. Using this indicator alongside other technical analysis tools helps traders make accurate market analyses and optimal trade entry. This indicator is straightforward, and traders of all skill levels can use it.