professional zig zag indicator
Info
The professional zig zag indicator is a Indicator for MetaTrader 5 that the professional zig zag is an indicator that compresses the price chart by connecting the highest highs and lowest lows. it calculates the zigzag using the price of the bar, such as the close price, or the high/low prices of the bar, which is the most common method used.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use professional zig zag 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 professional zig zag is an indicator that compresses the price chart by connecting the highest highs and lowest lows.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Account Health Monitor MT5: Professional Account Health and Risk Monitoring - another powerful indicator for MetaTrader 5 traders.
the professional zig zag is an indicator that compresses the price chart by connecting the highest highs and lowest lows. it calculates the zigzag using the price of the bar, such as the close price, or the high/low prices of the bar, which is the most common method used.Also recommended: Quantora Trading Session Monitor MT5: Professional Market Session and Activity Analysis - similar indicator with strong performance on MetaTrader 5.
the standard zigzag has some errors, particularly when it comes to outside bars. in 2026, a code was published that processes outside bars using the draw_zigzag style instead of draw_section.
a correct zigzag implementation should have the following features:
- the highs and lows must be strictly alternated;
- the high must be higher or equal among all bars on the right side until the next low;
- the low must be lower or equal among all bars on the left side until the next high.
using the example of eurusd, h1, 2026, december 8-13, we can see two cases with the outside bar. the typical zigzag cannot construct the correct picture.
the professional zig zag indicator uses a one-pass algorithm that recalculates and redraws only the last segment. it also has an optimization algorithm for calculations inside the bar and two algorithms for ordering high/low formation: using the bar type and using data from the lower timeframe.
some additional examples of zigzag incorrect constructions are shown in the figures. the correct construction of zigzag segments is also presented.
conclusion: the channel algorithm sometimes skips the highs. please report any bugs or features of this indicator.
You may also like: Quantora Symbol Information Dashboard MT5 - Professional Symbol and Trading Specifications Panel - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_plots 1
#property indicator_label1 "zigzag"
#property indicator_type1 draw_zigzag
#property indicator_color1 red
#property indicator_style1 style_solid.......
⚠ 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.