By integrating the Zigzag algorithm, the indicator highlights significant swing highs and lows, making it easier to visualize overall price trends, reversals, and key market turning points.
You can download it from this link:https://cdn.tradingfinder.com/file/5...5-by-tflab.zip
You can also access the MetaTrader 4 version of this Indicator through this page:https://www.cryptocraft.com/thread/1...zigzag-for-mt4
For instructions on how to install:https://www.forexfactory.com/thread/...-in-metatrader
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Key Features and Functionality
The indicator analyzes price swing points to determine the markets structural direction. It identifies and labels:
- Major Higher Highs (MHH)
- Major Higher Lows (MHL)
- Major Lower Highs (MLH)
- Major Lower Lows (MLL)
This visual representation helps traders understand whether the market is in a bullish, bearish, or transitional phase.
Bullish Market Example
On the Ethereum (ETH) 30-minute chart, a Change of Character (CHoCH) appeared, signaling the start of an upward reversal.
Subsequent Breaks of Structure (BOS) and the formation of higher highs and higher lows confirmed the ongoing bullish trend.
Minor corrections served as liquidity grabs (LQDT), reinforcing the strength of buyers and supporting continued upward movement.
Bearish Market Example
In the EUR/USD 1-hour chart, the indicator first identified a Change of Character (CHoCH), indicating a possible bearish reversal.
The market then formed lower highs and several Breaks of Structure (BOS), confirming the persistence of selling pressure and the establishment of a downtrend.
Indicator Settings
The Market Structure and Liquidity Sweep with Zigzag indicator offers fully customizable settings, allowing traders to adjust its behavior according to their strategy:
- Candles to Check Number of bars analyzed for market structure.
- Swing CHoCH Controls the sensitivity for detecting structural changes.
- Swing BOS Defines parameters for identifying Breaks of Structure.
- Swing Inducement Determines how the indicator identifies inducement setups.
- Show Zigzag Enables or disables Zigzag line visualization.
Conclusion
The Market Structure and Liquidity Sweep with Zigzag indicator combines ICT concepts with Zigzag-based structure analysis to deliver a comprehensive view of market behavior.
It helps traders accurately identify trend direction, reversal points, and liquidity events, making it a valuable tool for anyone following Smart Money or ICT-based trading strategies.
