MultiZigZag Indicator MT4 MetaTrader for scalp in Forex Free Download

📌 Introduction to the MultiZigZag MT4 Indicator for Forex in MetaTrader 4

The MultiZigZag indicator is a fully technical tool used in the Forex market for analyzing stocks and cryptocurrencies. This indicator is designed specifically for the MetaTrader 4 (MT4) trading platform.It displays ZigZag lines from multiple timeframes on a single price chart. By visually identifying ZigZags from different periods, traders can perform more accurate analysis in their trading process.

In general, this indicator shows three ZigZag lines based on 1-hour, 4-hour, and daily timeframes. Forex traders mainly use this tool to stay in the direction of a trend, and it’s quite effective for that purpose. In the following sections, we will fully explain how it works and how to get signals from it.

Click here to download and install The MultiZigZag  Indicator

⚙️ How the MultiZigZag Indicator Works

The MultiZigZag consists of three ZigZag lines, each representing a different timeframe. Showing ZigZag lines across various timeframes helps the trader better understand the overall trend of the market.

• The green line represents the daily timeframe, which helps identify the long-term market trend.
• The red line shows the 4-hour timeframe, indicating the mid-term trend.
• The blue line reflects the 1-hour timeframe, providing a short-term view of market trends.

Click here to download and install The MultiZigZag  Indicator

In general, the ZigZag indicator identifies peaks and troughs of a trend and connects them using lines. This way, traders can determine both entry and exit points for their trades and set effective stop-loss levels.

However, like most ZigZag indicators, this one is known for repainting and delays. It may not perform well in timeframes under 30 minutes and sometimes doesn’t draw any lines on the price chart in those lower timeframes.

⚠️ Note: Always confirm the signals from this indicator with your own analysis or with other technical indicators. Never rely solely on MultiZigZag’s signals. You can combine this tool with other indicators and use it as part of a comprehensive trading strategy to get the most benefit.

💽 How to Install the Indicator in MetaTrader 4

Click here to download and install The MultiZigZag  Indicator

At the bottom of the post, in the download box, you can watch a video tutorial on how to install indicators in MetaTrader 4. Follow the steps in the video to install the desired indicator properly.

Once you load the indicator onto the chart, on the first screen that appears, make sure to enable the “Allow DLL” option and then click OK.

📊 MultiZigZag MT4 Indicator Overview

The MultiZigZag consists of three ZigZag lines representing different timeframes:

• Blue line: 1-hour timeframe
• Red line: 4-hour timeframe
• Green line: daily timeframe

These lines help identify trends across different durations and provide better clarity on overall market movements.

⚙️ Indicator Settings in MetaTrader 4

Click here to download and install The MultiZigZag  Indicator

In the Inputs tab, you can find important technical parameters of the indicator. These can be customized based on your preferences and trading strategy.By default, the colors of the ZigZag lines may not be ideal, especially on a white background, making them hard to see. You can change them for better visibility to the colors mentioned above: blue (1H), red (4H), and green (Daily).

✅ Buy Signal Using MultiZigZag MT4 (MQL4-85 Code)

Click here to download and install The MultiZigZag  Indicator

When should you open a Buy position?
You can use the MultiZigZag indicator to catch market swings as follows:

1. The blue line should form a trough (low point), and the line should start moving upward.
2. The red line must show a clearly upward trend, forming a peak.
3. The green line should also form a trough, indicating a long-term potential trend reversal.
4. After all conditions are met and the troughs are stable, you can enter a Buy position at the trend reversal point.
5. Your Stop Loss can be set just below the blue ZigZag trough, or based on your personal strategy.

When should you close a Buy position?
Close the position when the blue ZigZag line completes a peak and starts moving downward.

⛔ Sell Signal Using MultiZigZag MT4 (MQL4-85 Code)

Click here to download and install The MultiZigZag  Indicator

When should you open a Sell position?
You can follow these conditions to open a Sell:

1. The blue line should form a peak, and then begin descending.
2. The red line must show a downtrend, forming a trough.
3. The green line should also form a peak, indicating a long-term trend reversal.
4. After all peaks are formed and stable, you can enter a Sell position at the trend reversal point.
5. Set your Stop Loss just above the blue ZigZag peak, or based on your strategy.

When should you close a Sell position?
Close the position when the blue ZigZag completes a trough and starts forming an upward move.

The MultiZigZag indicator is a technical analysis tool for the Forex market that draws three ZigZag lines based on different timeframes — 1H, 4H, and Daily. Traders mostly use this indicator to stay aligned with the trend, but it can also help identify potential trend reversals if specific conditions are met.

This indicator works best on higher timeframes and is not recommended for periods below 30 minutes due to its delay and occasional lack of output.By combining the MultiZigZag with other technical tools and applying it within a strategic framework, traders can enhance their accuracy and make better trading decisions.