Introduction to the Zig Zag Corridor Indicator
The Zig Zag Corridor Indicator is, as the name suggests, a zigzag indicator but it additionally draws a price channel on the chart. You can use the bands of the channel for entry points and take profit targets.
The Zig Zag Corridor Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Zig Zag Corridor indicator in MetaTrader (MT4)?
Installation Guide
Download the Zig Zag Corridor.rar archive at the bottom of this post, unpack it, then copy and paste the Zig Zag Corridor.ex4 or Zig Zag Corridor.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
Bottom Line
The Zig Zag Corridor indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 Zig Zag Corridor Indicator
To download the Zig Zag Corridor Indicator for Metatrader 4 (MT4) for free just click the button below:
Zig Zag Corridor Indicator Free Download
