Market Structure Indicator Download with Zigzag MT4 – Free – [TFlab] – MetaTrader 4 Resource

Market structure and liquidity scan with Zigzag indicator is designed based on the following concepts: Change of Character (CHoCH), Break of Structure (BOS) and Induction (IDM).

In addition to the above, this trading tool also uses the Zigzag algorithm to display the price movement path and its key points.

Spec sheet market structure induction and zigzag scan

The specifications of the Market Structure and Zigzag Liquidity Scanner indicators are as follows:

The induction and cleanup of the zigzag market structure are clear at a glance

This indicator identifies overall trend direction by analyzing price swing points. These points are:

• Higher Highs (MHH)
• Higher Lows (MHL)
• Lower Highs (MLH)
• Lower Lows (MLL)

bullish trend conditions

According to the Binance Coin (BNB) chart, a change in market characteristics (CHoCH) occurred first, followed by an upward move.

The bullish trend was then confirmed by the presence of a structural breakout (BOS) along with higher lows and higher highs.

Additionally, a minor pullback occurs simply to compete for liquidity (LQDT) before moving towards higher targets.

Bearish trend conditions

According to AUD/USD chart analysis, there is a change in bearish character, indicating the beginning of a downtrend.

Subsequently, the formation of lower highs and a structural breakout of the downward path confirmed the continued strength of sellers.

Indicator Settings Market Structure Zigzag Induction and Sweep

The Market Structure and Zigzag Liquidity Scanner indicators are set up as follows:

• Candles to check: Number of candles used for market structure analysis
• Swing CHoCH: Distance or sensitivity of character change detection
• Swing BOS: Sensitivity of structural break detection
• Swing Inducement: Price Inducement Identification Criteria Based on Distance and Movement Intensity
• Showing the zigzag: Showing the zigzag line on the chart

Conclusion

Market structure induction and scanning with Zigzag indicators are based on advanced ICT concepts and combined with the Zigzag algorithm to visualize market trend directions.

It simplifies market analysis and trade setup identification by accurately identifying changes of character (CHoCH) , breaks of structure (BOS) and inducements.