ZigZag DB Indicator

ZigZag DB Indicator

The ZigZag DB Indicator for MT4 is the best zigzag indicator that draws the peaks and troughs of the price.

The ZigZag DB is a trend analysis tool indicator for MetaTrader 4 (MT4) that detects the highs and lows of the price in a zigzag pattern. It helps in analyzing the trend direction of the market and potential reversal zones.

The indicator looks like the traditional ZigZag tool on the MT4 platform but differs in operation. It considers and highlights virtually every peak and trough of the price, which shows the trend direction of the market and the potential reversal zones.

How to Use The ZigZag DB Indicator for MT4

The above image depicts the action of the ZigZag DB indicator on the EUR/USD currency pair in the H4 timeframe.

The indicator would be insightful for beginners and intermediate forex traders for better analyses of the market and possible reversal zones of an asset. Besides, it would also make technical analysis more convenient for advanced traders.

Therefore, the indicator can spot when the market is creating higher highs and lower lows, which indicates a trending market. Thus, an uptrend is signaled when it prints a continual upward zigzag move from the lower left, while a downtrend is signaled when it declines to the downside.

Furthermore, it can also help to anticipate a trend reversal signal, which comes after the previous high or low of the price is broken. However, the indicator would be more efficient when combined with price action/other technical indicators.

Conclusion
The ZigZag DB indicator for MT4 shows the market trend direction and reversal zones in a zigzag pattern. Besides, it would also come in handy for scalpers and day/intraday traders to identify trading opportunities.