ZigZag Triad Indicator for MetaTrader 5 Download - [TradingFinder]

The ZigZag Triad Indicator is a practical tool in the MetaTrader 5 platform that draws ZigZag pivot points as support and resistance levels, allowing traders to identify key price reaction zones.

Forex traders can use this indicator to perform advanced technical analysis based on ZigZag structures and professionally identify price zones with a high probability of reaction.

ZigZag Triad Indicator Specifications Table

Below are the general specifications of the ZigZag Triad Indicator:

Indicator at a Glance

The ZigZag Triad Indicator is an enhanced and upgraded version of the standard ZigZag indicator that displays pivot points on the chart as support and resistance levels.

This indicator enables traders to analyze ZigZag lines along with key price levels to identify market reaction zones and determine appropriate entry points for buy or sell trades.

Uptrend

On the 15-minute ETH/USD chart, traders can use the ZigZag Triad Indicator to identify significant support levels in the market.

These levels are plotted based on ZigZag pivot points and typically represent areas with a high probability of price reaction. If the price pulls back to these zones, traders can treat them as potential buy entry opportunities.

Downtrend

On the 1-hour SOL/USD chart, resistance levels derived from ZigZag pivots are displayed.

The ZigZag Triad Indicator plots these pivot points as resistance levels, helping traders identify key zones of price rejection. In the example chart, the price reacts to this level three times but ultimately fails to break it.

Traders looking for high-importance resistance zones can identify such areas using this indicator and ZigZag analysis, then enter sell positions upon price retracement.

ZigZag Triad Indicator Settings

Below are the settings for the ZigZag Triad Indicator:

• Depth: Sets the ZigZag depth period;
• Deviation: Sets the ZigZag deviation period;
• Back Step: Sets the ZigZag backstep period;
• Show ZigZag: Toggles the display of ZigZag lines.

Conclusion

The ZigZag Triad Indicator is a useful tool for traders looking to identify ZigZag pivot points on the chart.

By plotting these pivots as support and resistance levels, the indicator helps traders visualize them directly on the chart and base their trading decisions on these areas.