Forex KNJ Zig Zag Value Indicator
This Old Kings indicator for MetaTrader 4 is called Forex KNJ Zig Zag Value Indicator. Judging by its name, it is built around the ZigZag swing tracer. In the code it works with ATR. It has 7 settings, for example Depth (default 12), Deviation (default 5) and Backstep (default 3). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 1 indicator file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Forex KNJ Zig Zag Value Indicator
Forex KNJ Zig Zag Value Indicator is an indicator for MetaTrader 4 based on ATR. It has 7 settings, such as Depth, Deviation and Backstep. MQL source code included.
Files in the download: 01_ZigZagvalue.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Depth | 12 | |
| Deviation | 5 | |
| Backstep | 3 | Distance between orders |
| Pivots color | Magenta | Colour on the chart |
| Zig zag line show | True | |
| Pivots value show | True | |
| Swing value show | False |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: ZigZag · ATR · MT4 Indicator · MQL4 Source Code