ZigZag Indicator V1.0 MT5 – Spot Market Trends with Precision

Ever get lost in the noise of candlestick chaos? You're not alone. Whether you're scalping M5 or holding positions on H1, it's easy to miss key turning points—especially when the chart is just full of random waves. That’s exactly where the ZigZag Indicator V1.0 for MT5 becomes your silent sniper. Designed to cut through the noise and spotlight actual price pivots, this free tool simplifies your chart so you can focus on what really matters: directional bias and trend reversals.

No more chasing false breakouts or getting faked out during ranging markets. If you're looking for an indicator that lets you visually spot HH-HL (Higher Highs – Higher Lows) and LH-LL (Lower Highs – Lower Lows) formations, the ZigZag Indicator V1.0 MT5 might just be your new favorite trading companion.

And the best part? It works seamlessly on pairs like US500, AUDCAD, EURCHF, and EURUSD across M5, M30, and H1 timeframes—so whether you're a day trader or a swing trader, you're covered.

Oh, and did we mention? It's completely free and available on MQL5.software courtesy of the YoForex team.

Let’s explore what makes this indicator such a useful beast on your charts.

Overview: What is ZigZag Indicator V1.0 MT5?

The ZigZag Indicator V1.0 is a non-repainting technical analysis tool designed to visually identify the major pivot highs and lows in price action. It filters out minor price movements and only highlights substantial swings, helping traders determine the primary market trend and short-term retracements.

It’s a visual mapping tool—it doesn’t issue buy/sell signals, but it helps you make more confident entries based on price structure. By connecting the major turning points, ZigZag reveals the "shape" of the market, often hidden by noise.

YoForex developed and verified this version for use on MetaTrader 5 (MT5), ensuring smooth performance even during high-volatility sessions.

You can pair it with other indicators (like RSI, MACD, or Moving Averages) for added confluence—or simply use it standalone for structure trading.

Key Features

• +Accurate pivot point detection (HH, HL, LH, LL)
• +Reduces market noise for cleaner charting
• +Great for wave counting and Elliott Wave theory
• +No repainting after candle close
• +Supports multiple timeframes (M5, M30, H1)
• +Customizable depth and deviation settings
• +Perfect for SMC, trend-following, or reversal setups
• +Works well with popular pairs: US500, AUDCAD, EURCHF, EURUSD
• +Lightweight, doesn’t lag MT5 platform
• +Helps in defining stop-loss and take-profit zones
• +Can be used in scalping, day trading, and swing trading
• +100% free to download on MQL5.software

How ZigZag Indicator Works

The ZigZag Indicator connects significant price highs and lows by drawing straight lines, effectively simplifying market structure into recognizable swings. It does this by ignoring smaller fluctuations based on a set deviation threshold (customizable by you).

This allows you to quickly identify:

  • Bullish trends (HH-HL structures)
  • Bearish trends (LH-LL formations)
  • Ranges or transitions between phases

It’s especially effective in spotting:
• Breaks of structure
• Liquidity sweep zones
• Impulse vs corrective waves
• High-probability breakout zones

This makes it a great visual tool for price action traders, SMC enthusiasts, and even algorithmic strategy designers.

Best Pairs & Timeframes

The ZigZag Indicator V1.0 MT5 is optimized for the following assets and timeframes:

Currency Pairs / Indices:

  • US500
  • AUDCAD
  • EURCHF
  • EURUSD

Recommended Timeframes:

  • M5 (great for scalping structures)
  • M30 (ideal for intraday setups)
  • H1 (good for trend-based swing trading)

Of course, it works on many other symbols too—but these combinations give the cleanest wave formations and structure zones, based on backtests by YoForex.

How to Use the ZigZag Indicator in Your Strategy

Want a quick-start guide? Here’s how to make the most out of this tool:

  1. Load the Indicator
    Install it from MQL5.software, then drag it onto your MT5 chart.
  2. Adjust Settings
    Customize the deviation, depth, and backstep to fine-tune how sensitive the pivot detection is.
  3. Spot Structure
    Look for series of HH-HL or LH-LL formations to identify market trend.
  4. Combine with Confirmation
    Use Fibonacci, trendlines, or SMC concepts for additional confluence before entering a trade.
  5. Plot Entries & Exits
    Use the ZigZag structure to place stop-loss below the last HL in an uptrend, or above LH in a downtrend.

This is not a “plug-and-play” signal bot—it’s a visual tool for traders who read the market like a story.

Installation & Setup

Setting up the ZigZag Indicator V1.0 MT5 is as easy as 1-2-3:

  1. Download it from MQL5.software
  2. Copy the file to:
    MQL5 → Indicators → Paste here
  3. Restart MT5, then go to Navigator and drag “ZigZag Indicator V1.0” onto any chart
  4. Adjust settings like “Depth” or “Deviation” as per your trading preference
  5. Done! You're good to go. Start analyzing those HH-HL and LH-LL levels.

Why Use YoForex Tools?

At YoForex, we believe every trader—whether newbie or seasoned—deserves access to free, powerful trading tools. We don’t gatekeep indicators or bots behind expensive paywalls.

That’s why tools like the ZigZag Indicator V1.0 MT5 are 100% free for the community.

We offer:

  • Regularly tested and updated tools
  • Deep market research and development
  • Beginner-friendly guides and expert insights

Check out our growing library of EAs and indicators at YoForex – Official Website and join a trading movement that values accessibility and transparency.

Support & Disclaimer

Need help installing or configuring the indicator? No stress.

• Chat with us on WhatsApp
• Join our Telegram Group

Our support team is always around for bug fixes, installation issues, or trading advice.

Disclaimer: This tool is for educational and research purposes. Past performance does not guarantee future results. Always backtest thoroughly and use a demo account before going live.

Call to Action

Ready to cut the noise and start trading with real structure?
Download ZigZag Indicator V1.0 MT5 today—completely free.

Your charts will thank you for it.

Let the waves guide your trades.

YoForex – Empowering traders worldwide, one free tool at a time.

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Happy Trading