Hey traders! Let’s talk about a nifty little indicator that can take your trading to the next level: the ZigZag based on close prices. If you’re familiar with MetaTrader 4, you know the built-in ZigZag indicator by MetaQuotes. But did you know you can tweak it for potentially better signals?
I’ve made a few adjustments to the original code. Instead of relying on the highest highs and lowest lows, this version focuses on the highest close and lowest close from the chart’s price history. It’s a subtle change, but it can make a world of difference!
Check out the chart below to see how the traditional ZigZag (in red) compares to my modified version, ZigZagClose (in yellow):
While some of the differences might seem minor, there are times when the impact can be quite significant. This could help you spot trends earlier or avoid potential pitfalls in your trades. It’s all about fine-tuning your tools to match your trading style!
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