ColorZZ is the modification of the FastZZ indicator. ColorZZ draws segments of different colors depending on the ratio of the current segment range to the previous segment range. The following ratio values are selected: Red(<=0.382), Gold(<=0.618), Lime(<=1), Aqua(<=1.618) and Blue(>1.618).
Warning. The color of a vertical segment is not displayed correctly by this indicator. This is due to technical constraints of the DRAW_COLOR_ZIGZAG plot style.
MT5 Indicator – Download Instructions
Color ZigZag is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Color ZigZag provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Color ZigZag.mq5?
- Download Color ZigZag.mq5
- Copy Color ZigZag.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Color ZigZag.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Color ZigZag.mq5 is available on your Chart
How to remove Color ZigZag.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator:
