MultiZigZag Indicator

MultiZigZag Indicator

MultiZigZag Indicator for MT4 draws multiple timeframes zigzag in single chart. Trade forex in the direction of BULLISH or BEARISH trend. Free to Download.

The MultiZigZag Indicator for MT4 displays ZigZags of multiple timeframes in the same chart. By visually identifying the ZigZags of different timeframes, the forex trader can prepare the best trend trading strategy. The indicator shows BULLISH and BEARISH market trends while providing the best price for ENTRY and EXIT points. It gives clear trend directions and indicates changes in Major and Minor market trends.

The MultiZigZag indicator is highly beneficial for new and advanced forex traders as it provides trend reversals automatically. Additionally, the ZigZag points indicate the best SUPPORT and RESISTANCE levels if a multi-timeframe reversal is registered. The indicator is free to download and easy to install. The indicator works perfectly in all timeframes, including daily, weekly, and monthly charts.

MultiZigZag Indicator For MT4 Trading Signals

The above EURUSD H1 chart shows the MultiZigZag indicator for MT4 in action. The chart displays the Hourly, 4 Hours, and Daily ZigZags in the same chart. The indicator displays the Hourly ZigZag in AQUA, the 4 HOURS ZigZag in RED, and Daily ZigZag in YELLOW.

Forex technical traders mostly use the indicator to stay in the trend direction. While the daily ZigZag shows the primary trend direction. Forex traders tend to enter in the H4 ZigZag direction with entry signals provided by the Hourly ZigZag. The ZigZag reacts mostly at the high and low of the timeframes and will recalculate whenever a new high or low is formed.

If the H4 ZigZag shows a BULLISH trend, forex traders can place BUY positions as per the trading signals of the Hourly chart. At the same time, by placing a STOP LOSS below the previous swing low of the Hourly chart with a price target towards the next Hourly ZigZag. Obviously, it is in the best interest of the forex trader to avoid taking SELL signals of the Hourly chart.

Oppositely, on a BEARISH H4 trend, then forex traders can place SELL positions as per trading signals of the Hourly chart, with a STOP LOSS above the previous swing high with price targets to the next ZigZag.

Thus, by using the MultiZigZag indicator for MT4, the forex trader can plan the best trend trading technical strategy. While staying in the direction of a higher time frame and trade using the trading signals of the lower timeframe.

Conclusion
The MultiZigZag Indicator for MT4 is the best indicator for forex traders applying trend trading technical strategy. The indicator works perfectly for intraday and long-term traders. Forex traders can download the indicator for free, and it is easy to install.