ZigZag Indicator
This Customizable ZigZag indicator filters out minor price noise and connects only the most significant swing highs and lows with a series of lines, giving traders a clean visual map of market structure and key turning points.
It works by scanning a rolling window of bars (Depth) to identify meaningful pivots, only confirming a swing when the move from the previous opposite point exceeds a minimum Deviation percentage. The Backstep setting ensures two pivots of the same type aren't registered too close together, keeping the output clean and relevant.
Visually, the connecting lines reveal trend structure at a glance β rising lines indicate higher highs and higher lows; falling lines indicate lower highs and lower lows. Optional dots mark each confirmed pivot precisely, useful as support, resistance, and pattern reference points.
Key parameters β Depth, Deviation, and Backstep β control how sensitive the indicator is. Higher values produce fewer, larger swings suited to higher timeframe analysis; lower values capture more frequent pivots for shorter-term work. Line colour, thickness, and style are fully customizable.
Traders can use this indicator for: trend structure analysis, support and resistance mapping, chart pattern recognition (double tops/bottoms, head and shoulders), and anchoring Fibonacci retracements to confirmed swing points.
It can be used on any trading pair.
