ZigZag Indicator MT4
Trend/pivot identifier · Peaks & valleys · Multiple versions · Free · MT4
About ZigZag Indicator
The ZigZag Indicator is a trend-following tool that identifies and marks peaks and valleys on a chart, ignoring minor price fluctuations. It uses a depth-deviation-backstep formula: depth sets how many bars back to look for pivots, and deviation defines the minimum price movement needed for a new zigzag line.
Popular variants include Zig Zag Multi (short/medium/long-term patterns), MTF ZigZag (multi-timeframe), and Swing ZZ. Best used on M30-D1 timeframes. The indicator helps traders spot support/resistance zones and confirm trend direction without the noise of small price gyrations.
- Platform: MetaTrader 4 / MetaTrader 5
- Type: Trend/pivot identification
- Best timeframes: M30, H1, H4, D1
- Key settings: Depth (bars lookback), Deviation (min movement)
- Price: Free
- Source: indicatorspot.com · Swing ZZ ZigZag Indicator
Key Features
✓ Automatically marks trend pivots — no manual line drawing
✓ Filters minor noise to show only significant price movements
✓ Free, customizable for any depth/deviation sensitivity
⚠ Best as a confirmation/context tool alongside a trading strategy