Market Structure Indicator with Zigzag MT5 Download – Free – [TFlab] – MetaTrader 5 Resource

Market structure and liquidity scanning with Zigzag indicator is based on ICT trading style . The tool identifies and displays concepts such as Change of Character (CHoCH), Break in Structural (BOS) and Liquidity Scan.

Furthermore, it uses zigzag lines to chart price movement trends and highlight their important and influential levels.

Spec sheet market structure induction and zigzag scan

The table below describes the Zigzag market structure and the specifications of the Liquidity Scan indicator:

Market structure induction and zigzag clearing – an overview

The Market Structure and Liquidity Scan and Zigzag indicators analyze price swing points to determine the overall trend direction. These points include:

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

bullish trend conditions

According to the Ethereum (ETH) 30-minute chart, the price reversed and moved upward after a change of character (CHoCH).

Multiple breakouts of the structure and the formation of higher highs and higher lows then confirmed the continuation of the bullish trend.

Additionally, the bullish momentum further intensified as a small pullback occurred in a scramble for liquidity (LQDT) .

Bearish trend conditions

According to EUR/USD 1-hour chart analysis, a change of character (CHoCH) appears for the first time, indicating the beginning of a downtrend.

Subsequently, the formation of lower highs and successive breakouts of the structure within the downtrend confirmed the persistence of selling pressure and the dominance of sellers in the market.

Indicator Settings – Market Structure Induction and Zigzag Scan

The Market Structure and Zigzag Liquidity Scanner indicators are set up as shown in the image below:

• 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 and Liquidity Scanning with Zigzag Indicator is based on ICT style and identifies and plots concepts such as characteristic changes, structural breaks and liquidity scanning.

Additionally, by using the Zigzag algorithm , it determines the structure of market movements and marks volatile highs and lows.