The Zigzag Close Indicator is a highly useful and popular free Forex indicator for MT4. It is mainly used to identify significant price reversals and trends in the Forex market. This indicator works by plotting a line on the chart which connects the closing prices of the candles with a certain number of bars. When the closing price of the candle is lower than the previous bar, the line will be drawn downwards. On the other hand, if the closing price of the candle is higher than the previous bar, the line will be drawn upwards. The Zigzag Close Indicator is very helpful in identifying trend reversals, as it helps traders to easily spot the highs and lows of the market. This indicator also helps traders to identify the support and resistance levels in the market, which can be used to make profitable trading decisions. Furthermore, the Zigzag Close Indicator can be used to identify price breakouts and breakouts of important support and resistance levels.
MT4
ZigZag Close
The Zigzag Close Indicator is a popular and free Forex MT4 indicator that is useful for all traders. This indicator is designed to help traders identify potential entry and exit points in the market. It uses a combination of price action, trend lines, and Fibonacci retracements to identify price reversals and shifts in momentum. The indicator plots a zigzag line on the chart that follows the price action and highlights potential entry and exit points. It is a useful tool for traders who are looking for an edge in the Forex market.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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