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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4.53 (83)
Indicators
Trend Ai indicator is great tool that will enhance a trader’s market analysis by combining trend identification with actionable entry points and reversal alerts.  This indicator empowers users to navigate the complexities of the forex market with confidence and precision Beyond the primary signals, Trend Ai indicator identifies secondary entry points that arise during pullbacks or retracements, enabling traders to capitalize on price corrections within the established trend. Important Advantage
MBFX Timing
Mohamed Hassan
5 (3)
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After purchase, contact me in private to get 7 days of FREE testing with EA Forex Proton where the robot automatically takes the trade alerts from MBFX Timing! MBFX Timing is an indicator that was developed and created by Mostafa Belkhayate, one of the best traders in the world. We decided to create a modified version that takes inspiration from the Stochastic Oscillator and the Relative Strength Quality Index indicators to improve your trading.  One of the main reasons we released MBFX Timing
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