What is zig-zag-2-line-indicator 1.3 Indicator?
ZigZag 2 Line Indicator 1.3 is an MT5 chart indicator that connects filtered highs and lows with ZigZag lines. Depth, deviation, backstep, and object settings control how much swing detail remains visible.
The lines simplify recent price structure and make larger turns easier to compare. They are historical chart drawings and can change as new price information appears.
How to Use It in Practice
Read the two connected ZigZag lines as a filtered record of swing highs and lows, then revisit the most recent endpoint as new price information arrives. The line is a historical drawing, so its last section is not a fixed result.
- Compare the swing sequence with the visible candle highs and lows, especially where the two lines simplify smaller movement.
- Adjust ExtDepth, ExtDeviation, and ExtBackstep to control how much movement is retained before comparing the result again.
- Use the object option to manage older line objects without mistaking the retained drawing for an unchanging level.
Filtered swing lines reduce small fluctuations, settings control visual detail, and the chart remains focused on recent structure.
MT5 Indicator Parameters
The screenshot above shows the default input parameters in the MT5 settings window.
| Parameter | Description |
|---|---|
| ExtDepth | Defines how many bars are considered when searching for significant highs and lows. A higher value creates fewer but more meaningful swing points. |
| ExtDeviation | Sets the minimum price deviation required to form a swing point. Larger values filter out small fluctuations. |
| ExtBackstep | Controls the minimum distance between swing points to avoid overlapping or too-frequent reversals. |
| ObjLineDel | Determines whether old zigzag lines should be removed automatically when new ones are drawn. |
