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Re: Zig-Zag Indicator MT4

Zyzel, Wed May 12, 2021 12:47 am

Hi Everyone,

Just leaving a Zig-Zag with cumulative volume display that I found from other site here. It works more or less like the Weiss Wave indicator but their displays of the cumulative volume data are slightly different.

Like any other zig-zag indis, this attached indicator repaints with every forming leg of new Higher Highs and Higher Lows. or Lower Highs and Lower Lows. So may others find some usefulness in this indicator for gathering data to aid in their decisive trading (this indicator is not suitable for signal entries due to its limitation)


P.s. When using volume data from MT4, do you this indicator with brokers that are widely used by most retail traders (in other words, more famous brokers) to obtain a more reliable data source for the volume data. Forex volume is decentralized, So, it is important to understand the limitations/disadvantages of this indicator.
Cumulative Zigzag Volime.PNG
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