ZigZag Alert Signal Metatrader 4 Forex Indicator

The ZigZag Alert Signal forex indicator for Metatrader 4 is based on the well-known ZigZag technical indicator.

In order to make it more easy for traders to follow its buy and sell signals, this version sends out alerts when there’s a new buy or sell trade opportunity.

Moreover, the indicator draws buy and sell arrows on the chart.

  • A blue arrow represents a buy trade opportunity.
  • A red arrow represents a sell trade opportunity.

It’s recommended to confirm signals with additional technical indicators or with price action techniques.

Furthermore, the ZigZag Alert Signal indicator displays the following Metatrader 4 account info on the main trading chart (can be turned ON and OFF).

  • Broker name
  • Account number
  • Trade Mode (demo or real)
  • Leverage
  • Balance
  • Equity

Free Download

Download the ZigZagSignal.mq4” MT4 indicator

Example Chart

The USD/JPY 1- Minute chart below displays the ZigZag Alert Signal Metatrader 4 indicator in action.

Basic Trading Signals

Signals from the ZigZag Alert Signal MT4 indicator are easy to interpret and goes as follows:

Buy Signal: Open buy trade position when the ZigZag Alert Signal MT4 indicator indicator suggests to “open BUY order”. Place a protective stop 1-3 pips below support.

Sell Signal: Open sell trade position when the ZigZag Alert Signal MT4 indicator indicator suggests to “open SELL order”. Place a protective stop 1-3 pips above resistance.

Trade Exit : Use your own method of trade exit.

Download

Download the ZigZagSignal.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (depth, deviation, backstep, display alerts, email alert, display trader info) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: signals

Installation

Copy and paste the ZigZagSignal.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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