ZZ Trend

ZZ-Trend shows the market-structure trend of up to 8 timeframes at a glance, in one small panel on any chart. It also draws the ZigZag and the current break levels of the chart's own timeframe, so you can see exactly why the trend is UP or DOWN.

What makes a trend

• Uptrend: price makes higher highs and higher lows. Each pullback holds above the previous swing low, and each new push breaks the previous swing high.
• Downtrend: price makes lower highs and lower lows. Each rally fails below the previous swing high, and each new drop breaks the previous swing low.
• Trend change: the structure breaks. In an uptrend, price falls through the last swing low. In a downtrend, price rises through the last swing high.

ZZ-Trend finds the swing highs and lows with a ZigZag and applies exactly this rule:

• Price breaks above the last swing high: trend UP.
• Price breaks below the last swing low: trend DOWN.
• Price between the two levels: the last break stays in force (optionally shown as ...).
• Both levels broken in the same bar (rare, very wide bars): the close against the midpoint of the two swings decides.

No averaging lag

Moving averages, MACD and similar tools average past prices, so they turn only after the move has been under way for a while. ZZ-Trend averages nothing. The trend changes on the tick where price crosses the swing level, not some bars later. The two levels it watches are drawn on the chart, so you always know the price at which the trend will flip.

If you prefer confirmation, switch to close mode: a break then counts only when a bar closes beyond the level.

Features

• Panel with up to 8 freely chosen timeframes (M1 to MN1), independent of the chart timeframe. The chart's own timeframe is marked with *.
• All rows update in real time. Higher timeframes also refresh once per second when no ticks arrive.
• Drag the panel anywhere with the mouse. It keeps its place while the indicator is attached.
• ZigZag on the chart, colored by the current trend.
• Dotted lines at the last swing high and swing low: the two levels that will change the trend.
• Standard ZigZag settings (Depth / Deviation / Backstep), with the same swing points as MetaTrader's built-in ZigZag.
• Buffers for Expert Advisors (see below).

Parameters

Timeframes

• Timeframe 1..8: enabled: show this row in the panel. Rows 1 to 7 are on by default.
• Timeframe 1..8: the timeframe of the row. Defaults: M1, M5, M15, M30, H1, H4, D1, W1.

ZigZag

• Depth (12): how many bars a swing high or low must dominate. Higher values give fewer, larger swings and a slower trend. Minimum 2.
• Deviation (5): minimum move in points before a new swing can start.
• Backstep (3): minimum bars between two swings. At most Depth - 1. Values out of range are corrected automatically, and the panel title shows the values in use, for example (12,5,3).
• Bars scanned per panel timeframe (500): history used for each panel row.
• Chart bars to calculate (3000): history used for the chart ZigZag and the buffers. 0 = all bars.

Trend

• Break counts on the open bar's high/low (true): true = the trend changes the moment price crosses the level; false = only when a bar closes beyond it.
• Inside the swing: keep the last break direction (true): true = the trend stays until the opposite level breaks; false = ... while price is back between the two levels.

Chart

• Draw the ZigZag (true): ZigZag of the chart timeframe, colored by its trend.
• Draw last swing high / low levels (true): dotted lines at the two break levels.
• Swing-high level / Swing-low level: colors of these lines.

Panel

• Show the trend panel (true).
• Panel can be dragged with the mouse (true).
• Default corner, X offset, Y offset: start position until the panel is dragged (default: top right).
• Font size, Font (10, Consolas).
• Title color, UP color, DOWN color, No trend color, Panel background.

Buffers for Expert Advisors (iCustom)

• Buffer 0, ZigZag: swing price on swing bars, 0 elsewhere.
• Buffer 1, Trend: +1 up, -1 down, 0 none, per bar of the chart timeframe.

Good to know

• As with every ZigZag, the newest swing point can still move while its leg is forming. For example, a swing low moves down if price makes a new low before turning. Older swings are fixed. EAs should therefore use the current bar's trend value, not backtest on the buffer history.
• A panel row shows ... for a moment while MetaTrader loads history for that timeframe.
• Use one copy of the indicator per chart.
• ZZ-Trend shows market structure. It does not place trades and is not a buy or sell signal on its own.