If you’re looking to sharpen your trading game, let’s talk about the Candle ZigZag indicator in MetaTrader 5. This nifty tool shifts its legs based on candlestick color changes, making it a unique asset for your trading toolkit.
One of the standout features of Candle ZigZag is that it supports a Period of 1. This is something that the default ZigZag indicator in the Example folder simply can’t do. So, if you’re into scalping or short-term trading, this might just be what you need.
What’s great about this indicator is its ability to help traders analyze charts in a flat mode. Unlike a traditional line chart that curves with price movements, the Candle ZigZag presents a clearer picture of price action, helping you make more informed decisions.
You can also toggle the close mode on or off, adding an extra layer of customization to your trading setup.
For a clearer comparison, take a look at the difference between a line chart and the Candle ZigZag when close mode is set to true:
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