ZigZag On Parabolic Indicator (MT4) - Free Download - Best Forex Indicators

Introduction to the Zigzag On Parabolic Indicator

The ZigZag On Parabolic Indicator is, as the name suggests, a combination of the ZigZag and Parabolic Sar indicators into one trading tool. When you load up the indicator, on the activity chart you will see the aqua lines of the Zig Zag and blue dots of the Parabolic Sar. Signals provided by the gauge are pretty good.

The ZigZag On Parabolic 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 ZigZag On Parabolic indicator in MT4?

Installation Guide

Download the ZigZag On Parabolic.rar archive at the bottom of this post, unpack it, then copy and paste the ZigZag On Parabolic.ex4 or ZigZag On Parabolic.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 ZigZag On Parabolic 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.