What is Boa ZigZag Price Indicator?
Boa ZigZag Price Indicator is an MT5 chart indicator that connects filtered swing highs and lows with ZigZag lines and places price labels at the marked points. Depth, deviation, backstep, and label settings shape the display.
The lines and labels provide visual context for comparing recent swing sequence and price structure. They are historical chart markings and do not establish a future turn.
How to Use It in Practice
Inspect the finer-than-standard ZigZag turns and the price labels attached to their peaks and troughs. Labels can gather around a similar price area; that clustering is useful for locating a repeatedly displayed swing area before comparing it with the surrounding chart.
- Review each labeled high and low, then look for labels that collect near the same price area.
- Adjust depth, deviation, backstep, label size or format, and colors to change the density and readability of the marks.
- Compare the displayed swing areas with nearby candles and the selected timeframe; the line is a chart map, not a fixed level.
Filtered swings and their price values are shown together, making recent structure easier to inspect without manual labels.
MT5 Indicator Parameters
The screenshot above shows the default input parameters in the MT5 settings window.
| Parameter | Description |
|---|---|
| Первая часть имени графических объектов | Defines the prefix used for graphical object names created by the indicator. Mostly for internal identification and does not affect display. |
| Length | Determines the number of bars used to identify swing points. A higher value produces fewer, more significant ZigZag turns; a lower value makes it more sensitive to small movements. |
| ShowPrice | Enables or disables the display of price labels at each ZigZag turning point. |
| nSize | Sets the text size of the price labels displayed on the chart. |
| UpColor | Specifies the color of the ZigZag lines drawn for upward price movements. |
| DnColor | Specifies the color of the ZigZag lines drawn for downward price movements. |
