The Zig Zag Value Indicator is a useful tool for Forex traders who use the MT4 trading platform. This popular free indicator is designed to help traders identify potential support and resistance levels in the currency markets. The Zig Zag Value Indicator works by plotting a series of zig zag lines on the chart and then calculating the vertical distance between each zig zag line. These vertical distances are then used to determine the support and resistance levels. The indicator is typically used to identify potential entry and exit points for trades. The Zig Zag Value Indicator is easy to use and can be quickly added to any MT4 chart. Once it is added, traders can adjust the parameters in order to customize the indicator to their specific trading style. For example, the user can adjust the sensitivity of the indicator by changing the percentage of the zig zag lines. They can also adjust the period of the indicator to focus on short-term or long-term trends.
MT4
Zig Zag Value
The Zig Zag Value Indicator is a useful tool for Forex traders using the MT4 platform. It is a popular and free indicator that helps traders identify and track price movements in the Forex market. The indicator uses a simple mathematical formula to calculate the zig zag values of the price action. It then draws a line connecting the points to create a zig zag pattern. It is a great tool for traders looking to gain an edge in the Forex market.
Indicator Type | |
---|---|
Trading Style | |
Timeframe | |
Platform |
0
People watching this product now!
Category: Price Action
Downloads - 13
Description
Reviews (0)
Be the first to review “Zig Zag Value” Cancel reply
How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
Related products
Three Drives Pattern
The Three Drives Pattern Indicator is a useful and popular free Forex indicator for MT4. It works by analyzing the price action of a given financial asset and then looking for three distinct price points that form a pattern. If the pattern is identified, then the indicator will alert the trader to a potential reversal in the trend. The Three Drives Pattern Indicator is a great indicator for traders who want to take advantage of the potential for quick profits when the market reverses.
Market Sessions
The Market Sessions Indicator is a free and popular Forex indicator for MT4. It is a useful tool for traders to identify the active trading sessions for different currency pairs. The indicator displays the start and end times of the major trading sessions in the Forex market, including London, New York, Tokyo, and Sydney. It also shows the current session and the time left until the next session. The Market Sessions Indicator is a convenient and powerful tool for traders of all levels to get a better understanding of the Forex market.
Trendline
The Trendline Indicator is a useful and popular free Forex indicator for MT4 platform. It is used to identify and draw trendlines on charts, which helps traders to identify and trade in the direction of the trend. The indicator works by automatically drawing trendlines on the chart when two or more points are connected. The Trendline Indicator is a great tool for any trader looking to gain an edge in the Forex markets.
Position Size Calculator
The Position Size Calculator indicator is a new and popular tool for forex traders that can be downloaded for free on the MT4 platform. This helps traders determine the correct position size for their trades based on the account balance, risk tolerance and the currency pair they are trading. The indicator takes into account the stop loss level, pip value and currency pair volatility to ensure that traders do not risk more than they can afford to lose. It is an essential tool for both beginners and experienced traders who want to effectively manage their risks and maximize their potential profits.
Breakout Pattern
The Breakout Pattern Indicator is a popular and free Forex indicator for MetaTrader 4 (MT4) trading platforms. It is a useful tool for traders who are looking to identify breakouts and potential trading opportunities. The indicator uses a combination of technical analysis, including support and resistance levels, trendlines, and price action to identify potential breakouts. The Breakout Pattern Indicator is a great tool for traders who are looking to take advantage of market breakouts and capitalize on potential trading opportunities.
Inside Bar
The Inside Bar Indicator is a popular and useful tool for forex traders, available for free on MT4. It helps identify potential price breakouts and is a great addition to any trading strategy. The indicator identifies inside bars, which are candlestick patterns where the current candlestick is completely within the range of the previous candlestick. With its simple and intuitive interface, it is easy to install and use for both novice and experienced traders.
Reviews
There are no reviews yet.