Multiple Zig Zags in a single window
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 Multiple Zig Zags in a single window
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
For the fans of ZigZag: a small indicator that draws multiple ZigZags from different timeframes on one timeframe. Four ZigZags are implemented (H1, H4, D1, W1). The timeframe should be selected as the minimal of the displayed ones, i.e. here it is H1. On all other timeframes it is drawn incorrectly, there are no timeframe checks.
Almost the same is present in ZUP by nen (DT mode). I decided to make a separate indicator to demonstrate the algorithm itself, which allows to display the indicators from other timeframes on the current one. Please note the checks in the start() function: they are required for the correct display of the "other" ZigZags, to make sure there are no plateaus near their extremums.
The ZigZag edited by Rosh is also attached. The code is not large, so replacing this ZigZag with other is not difficult. For that it is enough to make changes to the external parameters and to the ZZ() function: all the ZigZag parameters are "hidden" within function. If the parameters need to be changed depending on the timeframe, it will be a little more difficult, but not daunting.
The ZigZag colors correspond to the rainbow colors in ascending order («Richard Of York Gave Battle In Vain»): red - H1, orange (here - Goldenrod) - H4, green - D1, blue - W1.
Multiple ZigZags in a single window
