zig zag semaphore ( semafor ) indicator
Info
The zig zag semaphore ( semafor ) indicator is a Indicator for MetaTrader 4 that the marks show the level of the mark with a small white dot for level one, a red circle around the white dot for level 2, a yellow circle around both the white dot and red circle for level 3 and finally, a green circle around them all for level 4. the lengths are user enterable, and set for default values with these entries:extern int level_1_length = 21; // zig zag 1 detection length (21)extern int level_2_length = 40; // zig zag 2 detection length (40)extern int level_3_length = 60; // zig zag 3 detection length (60)extern int level_4_length = 72; // zig zag 4 detection length (72)two controls are added, one to turn text labels showing marked zig-zag’s price value on and off and the other to remove all the indicator marks from the display, or turn them back on – just click on the two text objects to toggle between on and off.
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 zig zag semaphore ( semafor ) indicator
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 marks show the level of the mark with a small white dot for level one, a red circle around the white dot for level 2, a yellow circle around both the white dot and red circle for level 3 and finally, a green circle around them all for level 4.
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: 3 level zz semafor indicator - another powerful indicator for MetaTrader 4 traders.
the marks show the level of the mark with a small white dot for level one, a red circle around the white dot for level 2, a yellow circle around both the white dot and red circle for level 3 and finally, a green circle around them all for level 4.
Also recommended: evenly weighted dx y and changeable base currency - similar indicator with strong performance on MetaTrader 4.
the lengths are user enterable, and set for default values with these entries:extern int level_1_length = 21; // zig zag 1 detection length (21)
extern int level_2_length = 40; // zig zag 2 detection length (40)
extern int level_3_length = 60; // zig zag 3 detection length (60)
extern int level_4_length = 72; // zig zag 4 detection length (72)
two controls are added, one to turn text labels showing marked zig-zag’s price value on and off and the other to remove all the indicator marks from the display, or turn them back on – just click on the two text objects to toggle between on and off.
i believe i have structured and commented pretty well for those interested in the code.
You may also like: Heiken Ashi with Doji Spotter - excellent alternative for indicator users on MetaTrader 4.
Source Code
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⚠ 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.