ZigZag Free (cTrader Indicator)

What it is
ZigZag Free is a clean swing-detection tool that marks significant pivot highs/lows and connects them with an uncluttered line. It’s ideal for market-structure reading (HH/HL/LH/LL), drawing channels and trendlines with less noise, and spotting swing patterns and impulse/correction sequences.

How it works

• Tracks the current swing extreme (Up/Down).
• When price reverses by at least the Deviation threshold and at least Backstep bars have elapsed since the last extreme, the new pivot is confirmed (no repaint).
• Confirmed highs/lows are plotted as points and connected by the ZigZag line.
• (Optional) The last leg can be visually extended to the current bar; already-confirmed pivots never repaint.

Parameters

• Deviation Units: Pips | Percent — choose the unit for the reversal threshold.
• Deviation Value: non-negative number — the reversal size in pips or percent.
• Backstep (bars): integer ≥ 1 — minimum bars between consecutive pivots to filter minor retracements.
• Price Mode: HighLow | Close — compute using highs/lows or closes only.
• Extend Last Leg: true/false — extend the unfinished leg for live visualization.

Outputs (for cBots/indicators)

• ZigZag: line values at confirmed pivots (NaN elsewhere; optionally extended on the last leg).
• High Pivots: points only at confirmed swing highs.
• Low Pivots: points only at confirmed swing lows.

Repaint policy

• Confirmed pivots do not repaint.
• The last leg can move until a new pivot is confirmed (standard ZigZag behavior). Disable “Extend Last Leg” to view only consolidated pivots.

Tips

• Higher timeframes → consider a larger Deviation; lower timeframes → smaller.
• Prefer Percent in highly volatile instruments; Pips is often intuitive on major FX pairs.
• Increase Backstep to reduce false swings in noisy markets.

Compatibility

• Modern cTrader/cAlgo (uses Bars.* API and LineColor outputs).
• Works on any symbol and timeframe.