Post-ZigZag Indicator for Trend Change Signals
Info
The Post-ZigZag Indicator for Trend Change Signals is a Indicator for MetaTrader 4 that the zigzag indicator is a widely recognized tool for identifying price trends. However, its repainting nature means that the ZigZag line can change retrospectively based on price movements, making it non-fixed at a given point in time.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 Post-ZigZag Indicator for Trend Change Signals
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
The ZigZag indicator is a widely recognized tool for identifying price trends.
Typical Use Case
This Indicator excels in trend following 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: External Range Liquidity (ERL) Indicator: Advanced Market Structure and Liquidity Analysis - another powerful indicator for MetaTrader 4 traders.
The ZigZag indicator is a widely recognized tool for identifying price trends. However, its repainting nature means that the ZigZag line can change retrospectively based on price movements, making it non-fixed at a given point in time.Also recommended: B Bands Psar Indicator - similar indicator with strong performance on MetaTrader 4.
The Post-ZigZag indicator addresses this by tracking the changes in the ZigZag line. When a significant number of continuous 'posts' (representing ZigZag movements) are detected on the screen, it provides a stronger signal for a potential trend reversal in the price.
This indicator can assist traders in identifying opportune moments to enter or exit trades based on confirmed ZigZag shifts, potentially improving trading strategy effectiveness.
You may also like: Fast Stochastic Indicator - 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 3
#property indicator_color1 red
#property indicator_color2 royalblue
#property indicator_color3 yellow
extern int extdepth=12;
extern int extdeviation=5;
extern int extbackstep=3;.......
⚠ 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.