The Zig Zag buy/sell indicator for Metatrader 4 delivers solid trading signals based on the Zig Zag trading algorithm.
The indicator gets displayed in the main chart window as simple to follow red buy & sell signal arrows.
The signals are connected with a dotted line.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
Key Points
- Signal indicator
- Newbie friendly
- Works for any time frame
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a buy & sell signal confirmation tool.
Free Download
Download the “zig-zag-buy-sell.mq4” MT4 indicator
Indicator Example Chart
The EUR/USD 5-minute chart below shows the Zig Zag buy/sell Forex indicator in action.
Basic Trading Signals
BUY:
- A buy signal is given when the red “up” arrow appears on the chart.
- Set stop loss below short-term support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
SELL:
- A sell signal is given when the red “down” arrow appears on the chart.
- Set stop loss above short-term resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download This Forex Indicator
Download the “zig-zag-buy-sell.mq4” MT4 indicator
Adjustable Parameters & Settings
Slalom, colors, style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: signals
How to install the Zig Zag buy/sell Forex indicator in Metatrader 4?
- Copy and paste the zig-zag-buy-sell.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button