Zig Zag
TrendOverlays priceA zig-zag line that connects only the swings larger than a set percentage.
What it looks like
Drawn by running the real calculation over one sample series. Open a symbol and it is recalculated on that symbol's bars.
How to read it
It erases the small wobbles and keeps the major highs and lows, so the skeleton of the waves is visible at a glance. A larger retracement setting leaves fewer vertices.
Where it misleads
The last leg can still change — its vertex is not fixed yet. This is a tool for reading past structure, not for judging the present bar.
Default settings
You can change these on the chart. These are the values it starts with.
In SQMATE
One tap to add
Open a symbol, tap the name in the indicator list and it is drawn straight away. You can stack several copies of the same indicator with different settings.
Recalculated per timeframe
Switch between minute, hourly, daily, weekly or monthly bars and it is recalculated on that timeframe. The maths runs over every bar loaded, so zooming never moves the line.
Use it as a search condition
Some indicators can also be used as an axis when searching for symbols — for example, keeping only symbols above a given reading, scanned every night.
Related indicators
- Williams FractalsA marker on every bar that is higher or lower than the few bars on both sides.
- Williams AlligatorThree shifted moving averages that show whether the market is asleep or awake.
- Price ChannelA corridor of the prior N bars' highs and lows, shifted one bar.
- Pivot Points StandardA pivot level and the steps above and below it, computed from the previous period's high, low and close.
- Pivot Points High LowHorizontal lines drawn from bars that are higher or lower than the few bars on each side.
- Chande Kroll StopTwo levels set away from the recent high and low by a multiple of range.
Every indicator is an observation computed from past bars. It does not tell you future prices and it is not investment advice.