What is ZigZag_MACDCandle Indicator?
ZigZag_MACDCandle is an MT5 chart indicator that displays candle-style bars derived from MACD calculations together with ZigZag swing markings. The combined view places momentum and swing structure in one visual layout.
Bar colors and swing lines help compare changing pressure with larger chart turns. The display is a review aid and does not classify a marker as a trading instruction.
How to Use It in Practice
Use the Heikin-Ashi-style MACD candles to compare price and oscillator swings, while treating the ZigZag line as an aid for locating those swing pairs:
- Compare a high or low on the price chart with the corresponding high or low in the MACD candle display when reviewing a divergence shape.
- Use the ZigZag markings to make the comparison easier to locate, but inspect the MACD candles themselves for the oscillator side of the relationship.
- The top three Cyrillic Input rows control MACD settings and the bottom three control ZigZag settings; keep the middle candle-drawing setting at its default unless a visible comparison is needed.
Momentum bars and swing structure are visible together, making cross-checking easier without opening separate displays.
MT5 Indicator Parameters
The screenshot above shows the default input parameters in the MT5 settings window.
| Parameter | Description |
|---|---|
| период быстрой средней | Sets the fast EMA period used in MACD calculation. A smaller value makes the indicator more sensitive to price changes. |
| период медленной средней | Sets the slow EMA period in the MACD calculation. Increasing this value smooths out short-term fluctuations. |
| период усреднения разности | Defines the signal line period, which is the smoothing factor applied to the MACD difference line. |
| источник данных для расчета | Specifies the data source for the MACD calculation, such as the signal line or main MACD line. |
| ExtDepth | Determines how far back the ZigZag indicator looks to detect swing highs and lows. A larger value produces fewer swing points. |
| ExtDeviation | Sets the minimum percentage price deviation required for the ZigZag to draw a new segment. Higher values filter out minor moves. |
| ExtBackstep | Controls how many candles back the ZigZag will check when confirming a new high or low, helping to avoid premature pivots. |
