1. Search for ZZ breaks – only at the availability of a maximum or minimum of the approximating curve (Snake), other extremums should be skipped as irrelevant.
2. ZZ is calculated on a larger timeframe (file named SZZ_without_ZZ.mq4 is responsible for this) and built on a smaller one (file SZZReader.mq4). This, along with par.1, allows us to decrease the amount of “redrawings”, as well as to avoid including “redundant” breaks and, partly, artificial stop-level touching extremums, into ZZ. Besides, the use of ZZ on a smaller timeframe will allow us to calculate the proportions between horizontal projections of sections more precisely.
3. The forming section of ZZ does not roll back from the reached levels, as the price does, but fixes them in order not to “distort” the proportions of shape development (in a case of turn, a new ZZ break will be formed on the latest of the reached levels, this development “alternative” is fixed with a “rubber-band”).
MT4 Indicator Download – Instructions
Pattern Searching ZigZag is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Pattern Searching ZigZag provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Pattern Searching ZigZag.mq4?
- Download Pattern Searching ZigZag.mq4
- Copy Pattern Searching ZigZag.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Pattern Searching ZigZag.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Pattern Searching ZigZag.mq4 is available on your Chart
How to remove Pattern Searching ZigZag.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: