Road Map Indicator for MT4/MT5
Info
The Road Map Indicator for MT4/MT5 is a Indicator for MetaTrader 4 that the road map indicator provides clear visual guidance for market analysis, akin to road signs on a journey. The indicator displays the following:- Impulse waves (indicated by bold sloping lines)- Corrective waves (indicated by thin sloping lines)- Upward wave series (shown in blue)- Downward wave series (shown in purple)- The length of wave series (indicated by numbers near the zig zag vertices)- Wave series breakthrough levels (short green and red lines)- Take profit targets (displayed using a Fibonacci grid from the start of the wave series)The zig zag indicator is non-standard, with its plotting concept derived from the wave theory developed by Stanislav Chuvashov.
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 Road Map Indicator for MT4/MT5
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 Road Map indicator provides clear visual guidance for market analysis, akin to road signs on a journey.
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: Range Filter Buy and Sell Indicator for MT4 with Signal Statistics - another powerful indicator for MetaTrader 4 traders.
The Road Map indicator provides clear visual guidance for market analysis, akin to road signs on a journey.Also recommended: Quantum Apex Color Indicator - similar indicator with strong performance on MetaTrader 4.
The indicator displays the following:
- Impulse waves (indicated by bold sloping lines)
- Corrective waves (indicated by thin sloping lines)
- Upward wave series (shown in blue)
- Downward wave series (shown in purple)
- The length of wave series (indicated by numbers near the zig zag vertices)
- Wave series breakthrough levels (short green and red lines)
- Take profit targets (displayed using a Fibonacci grid from the start of the wave series)
The zig zag indicator is non-standard, with its plotting concept derived from the wave theory developed by Stanislav Chuvashov.
Green numbers represent time fractals that may adjust with future price movements.
User-adjustable input parameters allow for customization of the zig zag bars (max_bars), line and number colors, and indicator display modes.
The road_map_v04.mq4 file has been updated. Minor errors have been corrected, and the core logic has been completely revised to enhance performance. This version is dated 2026.
You may also like: Mistral Trend Candles Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#property indicator_chart_window
input int tf_ind = 0;
input int max_bars = 300;
input color clr_series_up = clrblue;
input color clr_series_dw = clrpurple;
input color clr_tail_zz = clrgreen;.......
⚠ 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.