ZigZag Leg Break

Get alerted (and see on the chart) when a zigzag leg break occurs!  

Indicator works in real time, alerting and cleanly displaying when price closes beyond the last high/low zigzag.  This is important to confirm a trend is evolving in a healthy manner:  

To confirm a trend is evolving in a healthy manner, not only do we need to see price moving higher/lower than its previous high/low, we also expect to see at least two closes beyond that high/low as further evidence that the market is accepting and building value.

Failure to see at least two closes may be a precursor to what’s often referred to as false breakout, and while the move still holds its merit to qualify as a new high/low in the cycle, the quality of the leg is poor in nature. 

For more info on validated zigzag legs and market structures, review the article:  How To Read Market Structures In Forex 

 

Indicator Features:

Works in real time, checking conditions at every bar close.

Alerts are triggered when 2 bars close beyond the last high/low zigzag.

Granular control of qualifying the 2-bar-close: 

  • Enter the threshold (in pips) to qualify closing beyond.
  • Select the method to qualify a zigzag break: 
    • ZigZag broken with any 2 closed bars
    • ZigZag broken with 2 closed bars (1 Bear, 1 Bull)

Customize the zigzag line color and style.

Customize the lines and arrows of when a zigzag is broken.

Use on any timeframe (M1 – Month).

Bonus:  Can easily be consumed in an Expert Advisor to use in a trade robot.


Rider Capital Group


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Prop Firm Sniper MT4  is a professional market structure indicator that automatically identifies high-probability BUY and SELL opportunities using BOS and CHoCH analysis. Recommended Timeframes: For backtesting, use the indicator on   M5 or M15   for Gold (XAUUSD), and   M15 or H1   for more volatile Forex pairs such as   GBPUSD, USDJPY, EURGBP , and similar markets. CONTACT ME AFTER PURCHASE TO CLAIM YOUR FREE BONUSES! Prop Firm Sniper  is a professional market structure indicator designed t
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Yan Zhen Du
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This is a professional chart indicator designed for traders focused on stability and clear price action. It helps filter market noise and provides clear visual entry and exit zones for your trading decisions. Core Features: Strictly Non-Repainting: The system is built with strict non-repaint logic. What you see on the chart is the true historical performance. Confirmed Signals: Signals are triggered and confirmed only after the candle closes . Once a trading arrow appears on a closed candle, it
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