Forex Zig Zag Pointer Trading Indicator
This Old Kings indicator for MetaTrader 4 is called Forex Zig Zag Pointer Trading Indicator. Judging by its name, it is built around the ZigZag swing tracer. It draws arrows on the chart. It has 3 settings, for example Depth (default 12), Deviation (default 5) and Backstep (default 3). Load it on a demo chart and check whether its signals repaint before trusting them. 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 Zig Zag Pointer Trading Indicator
Forex Zig Zag Pointer Trading Indicator is an indicator for MetaTrader 4. It draws buy and sell arrows on the chart. It has 3 settings, such as Depth, Deviation and Backstep. MQL source code included.
Files in the download: installation manual.txt, ZigZag_Pointer.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Depth | 12 | |
| Deviation | 5 | |
| Backstep | 3 | Distance between orders |
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 · Buy/Sell Arrows · MT4 Indicator · MQL4 Source Code