1. Overview

Extracts extreme values of price movements and displays zigzag lines and markers. There are four types that can be displayed. You can set each to show or hide. 　　Zigzag Line　　　　　　　Connects alternating maximum and minimum values with a zigzag line. 　　Envelope　　　　　　　　　Connects maximum values with maximum values and minimum values with minimum values using lines. 　　Extreme Value Mark　　　　　Displays markers on maximum and minimum values. 　　Extreme Value History Mark　Displays markers on the history of maximum and minimum values. You can choose to extract extreme values from either "Wicks (Highs and Lows)" or "Bodies (Open and Close)". This is an example of execution with the initial settings. By default, all of the above will be displayed.

This is an example of applying three indicators set to display the above with a period parameter (Depth=30), the same (Depth=90), and the same (Depth=200). The example below includesiK_Banners・iK_Flags・iK_iK_Market Clock Bar・iK_Difference・iK_RSIare also displayed, but are not included in this indicator.

Example of collaboration with the vertical line indicator for the reference timeiK_BaseTime Line. The example below includesiK_Banners・iK_Flagsbut are not included in this indicator.

2. Installation

You can install it by extracting the downloaded ZIP file and dragging and dropping it into the MT5 data folder. Please refer to the following video.

Installing the Indicator [MT5 Version], Itoshima K, YouTube

The following files will be installed.

Main indicator file: [MT5 Data Folder]-[MQL5]-[Indicators] folder
　　iK_ZigZag.ex5

3. Configuration Items

[Shared] Tab

[Input] Tab

1. Zigzag

1.1 Basic Settings

Set the target for extracting extreme values and the parameters for ZigZag (Depth, Deviation, Backstep).

1.2 Zigzag Line and Envelope Settings

Line settings (color, line width, line type) are done in the [Color] tab.

1.3 Extreme Value Mark and History Mark Settings

Set the markers (type, vertical shift amount). The color and size of the markers are set in the [Color] tab. Please specify the number in the table below for the type of marker.

(Management Parameters)

(D.01) Delete Residual Objects of iK Series IndicatorsAfter deleting the iK series indicators from the chart, there may be rare cases where objects remain without being deleted. This function deletes such objects. After executing the deletion, please return the selection to "Do not delete".

[Color] Tab

Set the color, line width, line type, marker color, and size (item "Width"). You can hide by specifying None. Each is set in the following items. 　　Zigzag Line　　　　　　　ZigZag 　　Envelope　　　　　　　　　HiEnvelope・LoEnvelope 　　Extreme Value Mark　　　　　HiMark・LoMark 　　Extreme Value History Mark　HiMarkHistory・LoMarkHistory

4. Notes

Usage Period

This version has a usage period set.
We will notify you of the version upgrade before the expiration date, so please download it to continue using it. Upgrades are free.

Disclaimer

We are not responsible for any damages arising from the use of this indicator.
Additionally, the provision of this indicator may be discontinued without notice.

Prohibited Actions

It is prohibited to transfer (or lend) the files and usage rights of this indicator.
It is also prohibited to use the indicator that has been transferred (or lent).

Specification Changes

Up to version 1.04.03j, multiple Depths could be specified, but in version 1.05.01jthe specified Depth has been changed to only one. The specified Depth'szigzag line, envelope, extreme value mark, and extreme value history mark can now be displayed. The display and non-display of these can be set individually. By applying multiple indicators with different settings to the chart, you can achieve a display similar to the previous version. In charts that inherit the previous version, there may be cases where they do not display correctly. In that case, please either reset the settings in the [Input] tab and [Color] tab orremove this indicator from the chart and reapply it.

5. Revision History

v1.20.04j, 2024/8/21
Updated the usage period to 2025/12/31.
v1.20.03j, 2024/2/9
Addressed several bugs.
Made minor corrections.
v1.13.04j, 2023/7/22
Updated the usage period to 2024/10/1.
v1.13.03j, 2022/9/27
Addressed an issue where the indicator graph did not return to normal when the iK_BaseTime Line was removed from the chart.
Added a function to delete residual objects of the iK series indicators.
Updated the usage period to 2023/10/1.
v1.12.04j, 2022/4/13
Updated the usage period to 2022/10/31.
v1.12.03j, 2022/4/6
Made small corrections.
v1.12.02j, 2022/3/30
Addressed an issue where multiple applications could not be made on the same chart.
v1.12.01j, 2022/3/30
Improved performance and responsiveness.
v1.05.06j, 2022/3/6
Addressed an issue where it did not display correctly in collaboration with the iK_BaseTime Line.
Updated the usage period to 2022/9/30.
v1.05.05j, 2022/1/16
Addressed an issue where it did not display correctly on long-term time frames (weekly, monthly, etc.).
v1.05.04j, 2021/12/30
Updated the usage period to 2022/6/30.
v1.05.03j, 2021/9/4
Addressed an issue where the vertical line for the reference time (iK_BaseTime Line) did not display correctly when moved.
v1.05.02j, 2021/9/3
Revised the processing method when the vertical line for the reference time (iK_BaseTime Line) was moved, improving responsiveness.
v1.05.01j, 2021/9/1
Changed the specified Depth from three to one.
Changed to allow individual specification of display/non-display for the zigzag line, envelope, extreme value mark, and extreme value history mark for the specified Depth.
Revised the processing method when the vertical line for the reference time (iK_BaseTime Line) was moved, improving responsiveness.
v1.04.03j, 2021/8/24
Addressed an issue where zigzag lines and markers flickered during display.
Changed the setting in the [Input] tab for "Y. Update Frequency" to update as needed.
Enhanced compatibility with iK_BaseTime Line (to be released soon).
v1.04.01j, 2021/8/16
Updated the usage period to 2022/3/1.
Supported collaboration with iK_BaseTime Line (to be released soon).
v1.03.04j, 2021/8/5
Revised the processing method at the first startup.
Added "Y. Update Frequency" to the [Input] tab of the indicator properties.
v1.03.03j, 2021/7/29
Enabled specification of three Depth parameters, allowing display of extreme value marks, extreme value marks with envelopes, and zigzag lines.
Addressed a bug where indicator lines did not display from the middle of the chart to the latest candle.
v1.02.07j, 2021/7/26
Updated the usage period to 2022/2/1.
v1.02.04j, 2021/7/22
Confirmed operation on several new MT5 accounts.
v1.02.03j, 2021/7/11
Confirmed operation on the Foreign Exchange Finest MT5 demo account.
v1.02.02j, 2021/6/18
Revised processing when all markets are closed (such as on weekends).
v1.01.01j, 2021/5/20
First version.

Introduction to the iK Series

【Settings】

Bulk change of chart properties
iK_Chart Properties
Common settings for the iK series
iK_Common Settings

【Control】

Convenient for reviewing past charts! Many compatible indicators included!
iK_BaseTime Line

【Indicators】

Currency strength that also shows recent momentum
iK_Currency Power
Moving Average Divergence
iK_Difference
Display of RSI + breakout markers
iK_RSI
Displays the daily price movements of three markets with numbers and rectangular frames
iK_Volatility
Displays zigzag lines + extreme value markers + extreme value envelopes
iK_ZigZag

【Multi-Time Frame】

Heavenly chart style
iK_G.Chart Similar
Overlay higher time frame candlesticks on the chart
iK_MTF Candles
Display horizontal lines for support and resistance levels and trend reversal markers!
iK_MTF Horizontal Lines
Stair-step multi-time frame moving averages + α
iK_MTF Moving Averages
Display horizontal lines for support and resistance levels, extreme value markers for highs and lows, and trend reversal markers!
iK_MTF OshiModori
Display the rise and fall status of candlesticks and multi-time frame moving averages
iK_MTF UpDown Info
Multi-time frame compatible zigzag
iK_MTF ZigZag

【Convenience】

Two banners (symbol, time frame and date, time)
iK_Banners
Display news such as economic indicators and important speeches, with filtering by country and importance
iK_Calendar
Conveniently select your favorite symbols and time frames! Also includes chart load/save functionality!
iK_Changer
Display country flags according to the symbol! Easy to change symbols by clicking the flag!
iK_Flags
Display the current time for three markets! Also shows remaining time until the new candle!
iK_Market Clock
Display market open hours as bars! Also includes time and date labels and vertical lines!
iK_Market Clock Bar
Display a gauge for the specified price range (height)! Also includes horizontal lines for round numbers!
iK_Pips Gauge

ジグザグ線＋極値マーク＋極値の包絡線を表示： iK_ZigZag［MT5版］