KNJ ZigZag with Value indicator for MetaTrader 4 – The ZigZag indicator is used to help identify price trends. The indicator eliminates random price fluctuations and attempts to show trend changes.
- PivotsColor=Magenta; => Color of pivot value/Swing value
- ZigZagLineShow=True; => To show (True) or hide (false) zigzag line
- PivotsValueShow=True; => To show (True) or hide (false) highs/lows Value
- SwingValueShow=False; => To show (True) or hide (false) swing Value
ZigZag lines only appear when there is a price movement between a swing high and a swing low that is greater than a specified percentage; usually 5%.
By filtering out minor price movements, the indicator makes trends easier to spot.