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Forex KNJ ZigZag with Value MT4 Indicator

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.

Trading NOTES


Input Settings:

  • ExtDepth=12;
  • ExtDeviation=5;
  • ExtBackstep=3;
  • 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.


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