double zig zag trading strategy
Info
The double zig zag trading strategy is a Indicator for MetaTrader 4 that this strategy is based on analyzing the two catheti of the last vertex of the senior zigzag and the number of vertices of the junior zigzag order within them to make a buy/sell decision. the position is closed based on a counter signal.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use double zig zag trading strategy
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
this strategy is based on analyzing the two catheti of the last vertex of the senior zigzag and the number of vertices of the junior zigzag order within them to make a buy/sell decision.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: bars alligator trading advisor - another powerful indicator for MetaTrader 4 traders.
this strategy is based on analyzing the two catheti of the last vertex of the senior zigzag and the number of vertices of the junior zigzag order within them to make a buy/sell decision. the position is closed based on a counter signal.Also recommended: spread indicator for pair trading - similar indicator with strong performance on MetaTrader 4.
senior zigzag indicator parameters:
extdepth=13*8;
extdeviation=5*8;
extbackstep=3*8;
junior zigzag parameters:
extdepth=13;
extdeviation=5;
extbackstep=3;
calculation is performed once a day at a specific time, set by the 'h' parameter.
testing was done on eurusd m1.
advisor parameters:
- 'k' - ratio of junior zigzag vertices in the senior zigzag catheti
- 'k2' - ratio of price differences in the senior zigzag vertices
- 'h' - calculation time
example:
red - junior zigzag
abc - senior zigzag vertices
ac contains 5 vertices
ab contains 3 junior zigzag vertices
results for 2026.01.01-2026.02.01:
...
You may also like: the little whore trading strategy - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
datetime lastopentime=d'01.01.2004';
double ppoint=1888.0;
double spoint=1888.0;
double bpoint=888.0;
extern double k=2.1;
extern double k2=2.1;
extern int h=21;
int init().......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.