Using the Zigzag algorithm, the indicator connects significant swing highs and lows, providing a clear visual representation of market structure, trend direction, and reversal zones.
You can download it from this link:https://cdn.tradingfinder.com/file/5...5-by-tflab.zip
You can also access the MetaTrader 4 version of this Indicator through this page:https://www.metalsmine.com/thread/13...tatrader-4-mt4
For instructions on how to install:https://www.forexfactory.com/thread/...-in-metatrader
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Core Functionality
This indicator analyzes swing points in price movement to identify and label market structure shifts, including:
- Major Higher Highs (MHH)
- Major Higher Lows (MHL)
- Major Lower Highs (MLH)
- Major Lower Lows (MLL)
These structural points help traders determine whether the market is trending upward, downward, or transitioning between phases.
Bullish Market Example
On the Ethereum (ETH) 30-minute chart, a Change of Character (CHoCH) appeared, indicating a shift from bearish to bullish momentum.
Following this signal, a series of Breaks of Structure (BOS) and the development of higher highs and higher lows confirmed the continuation of the uptrend.
Short pullbacks represented liquidity grabs (LQDT), reinforcing the bullish bias and providing potential entry opportunities aligned with Smart Money principles.
Bearish Market Example
In the EUR/USD 1-hour chart, the indicator detected a Change of Character (CHoCH) marking the beginning of a downward move.
Afterward, multiple Breaks of Structure (BOS) and the creation of lower highs and lower lows confirmed ongoing selling pressure and trend continuation.
Indicator Settings
The Market Structure and Liquidity Sweep with Zigzag indicator includes adjustable parameters for fine-tuning its analysis:
- Candles to Check – Defines how many bars are analyzed for structure formation.
- Swing CHoCH – Adjusts the sensitivity for identifying Changes of Character.
- Swing BOS – Controls how the indicator detects Breaks of Structure.
- Swing Inducement – Sets conditions for identifying inducements in price action.
- Show Zigzag – Toggles the visibility of the Zigzag line on the chart.
Conclusion
The Market Structure and Liquidity Sweep with Zigzag indicator provides a complete analytical framework for ICT-style trading.
By combining market structure identification, liquidity sweep detection, and Zigzag-based swing analysis, it enables traders to pinpoint trend direction, reversal areas, and liquidity events across different markets and timeframes with precision and confidence.
