Fractal ZigZag No-repaint Indicator

Fractal ZigZag No-repaint Indicator

The Fractal ZigZag No-repaint Indicator for MT5 is a highly customizable trading tool built with two Zigzags trend analyzers that displays highs/lows of price swings.

The Fractal ZigZag No-repaint indicator for MetaTrader is a custom trading tool built with two distinct ZigZags trend analyzers that plots the swing highs and lows of the price. These zones (swing highs/lows) are the potential trend reversal points of the price. This infers that the indicator is suitable for identifying trend reversal setups.

The indicator is an extended version of the regular Zigzag indicator on the MetaTrader platform. It is well optimized, easy to plot and has blue and red arrows indicating a signal without redrawing. The blue arrow depicts a bearish signal and the red arrow depicts a bullish signal generated by the fast and slow Zigzag indicators.

Additionally, this technical indicator can be used by trend and counter trend traders to look for buy/sell trading opportunities. However, the signal tends to be more reliable in a trending market. So, in essence, it is recommended to use it in a trending market for greater efficiency.

How to Trade with the Fractal ZigZag No-repaint Indicator

The image above shows the action of the indicator on the EURUSD chart on the M30 timeframe. It shows how to align the indicator signal with price action for the best setup/trade entry.

First, the image shows that the overall trend of the EURUSD pair is bullish. In addition, the indicator drew a red arrow below the price, which indicates the potential completion of a minor pullback and a possible continuation of the bullish movement. Finally, the indicator signal was accompanied by a bullish engulfing candlestick pattern, which also serves as a buy entry.

The above principle can also be used to create a sell entry in a bearish trend. In addition, you can also use the Fractal ZigZag No-repaint indicator as a confluence with other technical indicators such as MACD, Stochastic Oscillator, etc. to find trading opportunities.

Conclusion
The Fractal ZigZag No-repaint Indicator for MT5 is one of the best trend reversal trading tools suitable for scalpers, day/intraday and swing traders. Finally, it’s free to download.