Multiple ZigZags in a Single Chart Window
Info
The Multiple ZigZags in a Single Chart Window is a Indicator for MetaTrader 4 that this indicator is designed for enthusiasts of the zigzag indicator, allowing the display of multiple zigzags from different timeframes within a single chart window. The indicator currently implements four ZigZags corresponding to H1, H4, D1, and W1 timeframes.
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 Multiple ZigZags in a Single Chart 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.
What this tool does
This indicator is designed for enthusiasts of the ZigZag indicator, allowing the display of multiple ZigZags from different timeframes within a single chart window.
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: source code for multiple orders - another powerful indicator for MetaTrader 4 traders.
This indicator is designed for enthusiasts of the ZigZag indicator, allowing the display of multiple ZigZags from different timeframes within a single chart window.Also recommended: multiple moving averages (mas) - similar indicator with strong performance on MetaTrader 4.
The indicator currently implements four ZigZags corresponding to H1, H4, D1, and W1 timeframes. It is recommended to set the chart's primary timeframe to the lowest of the displayed timeframes (e.g., H1) for optimal visualization, as ZigZags may not render correctly on other timeframes without specific checks.This tool demonstrates an algorithm for displaying indicators from various timeframes on the current chart. The `start()` function includes essential checks to ensure accurate rendering of ZigZags from other timeframes, particularly by preventing plateaus near their extreme points.
An edited version of the ZigZag indicator by rosh is also provided. Due to the indicator's concise code, replacing the current ZigZag with others is straightforward. Modifications would primarily involve adjusting external parameters and the `zz()` function, as all ZigZag parameters are encapsulated within it. Adapting parameters to be timeframe-specific would require slightly more effort but remains achievable.
The ZigZag lines are color-coded according to the rainbow spectrum in ascending order: Red for H1, Goldenrod (as orange) for H4, Green for D1, and Blue for W1.
This provides a consolidated view of multiple ZigZags within a single chart window.
You may also like: daily trend indicator for multiple currency pairs - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 red
extern int extdepth=12;
extern int extdeviation=5;
extern int extbackstep=3;
double extmapbuffer[];
double extmapbuffer2[];.......
⚠ 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.