Does Zigzag indiactor in MT4 have a choice for percentage/pip retracement?
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Hi all,
Trying to figure out what the Zigzag in MT4 does (the version that comes with MT4 download). My understanding is that zigzag will draw a line in the reverse direction if the pre-set percentage/pip retracement has occurred. What I try to do is to have the zigzag draw a line only when at least 20pip retracement has occurred.
I tried to play around with the setting ExtDepth, ExtDeviation and ExtBackstep but cant help to get rid of lines with retracement <20pip. Am I using the wrong zigzag version? I tried to look for diff zigzag but didnt get it.
Any suggestion?
Thank you.