Fractal Zig Zag (never repaints)
This professional-grade solution for MetaTrader 4 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Fractal Zig Zag (never repaints)
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.
Description & Settings
This indicator is very simple: it shows signals triggered using Fractals and the original ZigZag indicator without any further filtering.
It does never -ever- repaint a past signal and therefore it useful to study the real behavior of the ZigZag -which does repaint- as a trading tool over time.
You should complement signals with your own trading strategy or edit the source code to do it.
As you can see, many signals are repainted by ZigZag indicator over time.
It depends on original -attached-.
Recommendations:
Do not trade this indicator by itself
You can use this indicator template to filter zigzag signals with your trading strategy
Features:
Adjustable ZigZag parameters
You decide wether to evaluate bar zero or not
