Zig Zag Multi Indicator Download for MetaTrader 4 - Free - [Trading Search]

The Zig Zag Multi indicator is one of the indicators available for MT4. This indicator is designed to identify changes in price direction and provide clear trends on financial charts.

It draws jagged lines that clearly show valleys and peaks to traders. By using this practical tool, traders can find more suitable Entry and Exit points for entering a trade.

Indicator specification table

Indicator overview

The Zig Zag Multi indicator allows traders to view major market trends displayed in the form of zigzag lines on the chart, allowing them to predict potential price movements. This indicator also allows traders to add three zigzag lines "long term, medium term, short term" on the chart simultaneously.

Uptrend Conditions

The 30-minute price chart of the AUD/USD currency pair shows how this indicator behaves during uptrend conditions.

In the Zig Zag Multi indicator, uptrend conditions can be identified by the formation of higher lows (HL), the breakout of previous highs, the formation of higher highs (HH), and the strength of the angle between the peaks and troughs plotted by the indicator.

downtrend conditions

The 1-hour price chart of the EUR/USD currency pair shows how this indicator behaves during downtrend conditions.

In the Zig Zag Multi indicator, downtrend conditions can be identified by the formation of lower highs (LH), breakout of previous lows, formation of lower lows (LL), and the strength of the angle between the peaks and troughs plotted by the indicator.

Settings

• Show Long-Term Zig Zag Line: Long-Term Zig Zag Line is enabled;
• Pivot period long-term Zigzag line: the number of candles between the peak and the trough is set to 9;
• Long-term zigzag line style: Long-term zigzag line style is Solid;
• Long-term zigzag line color: Long-term zigzag line color is blue;
• Long-term zigzag line width: Long-term zigzag line width is 2;
• Show long term labels: Enable peak and valley labels;
• Long-term label color: The label color is set to blue;
• Long term zigzag label size: label size set to 12;
• Show mid-term zigzag lines: mid-term zigzag lines are enabled;
• Zigzag line in the middle of the pivot period: the number of candles between the peak and the trough is set to 6;
• Mid-term zigzag line style: Mid-term zigzag line style is Solid;
• Mid-term zigzag line color: Mid-term zigzag line color is light blue;
• Mid-term zigzag line width: The mid-term zigzag line width is set to 1;
• Show mid-term labels: Enable peak and trough labels;
• Mid-term label color: The label color is set to light blue;
• Mid-Zigzag Label Size: Label size is 10;
• Show short-term zigzag lines: Short-term zigzag lines are enabled;
• Pivot period short-term zigzag line: the number of candles between the peak and the trough is set to 3;
• Short-term zigzag line style: The short-term zigzag line style is solid line;
• Short-term zigzag line color: short-term zigzag line color is red;
• Short-term zigzag line width: The short-term zigzag line width is set to 1;
• Show short-term labels: enable peak and valley labels;
• Short-term label color: The label color is set to red;
• Short zigzag label size: Label size is set to 8.

Conclusion

The Zig Zag Multi indicator is a useful tool for all financial markets, including Forex Market and cryptocurrency , on MT4. It is easy to use and even beginners can take advantage of it. The Zig Zag Multi indicator is compatible with multiple time frames, providing traders with a clear view of trend movements.