Gann Zig Zag is a free mt4 (Metatrader 4) indicator that can be used for both trade entry and exit or as an additional trade confirmation filter for other strategies and systems.
The indicator pops up in the main MT4 chart window and draws all Gann Zig Zag lines in it.
The indicator works equally well on all currency pairs (majors, minors, and exotics) and shows promising results when used correctly.
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Download the “gann-zig-zag-indicator.ex4” indicator for MT4
Indicator Chart (EUR/USD M15)
The example chart below displays the Gann Zig Zag mt4 indicator in action on the activity chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Gann Zig Zag indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Zig Zag + Gann
Does the indicator repaint? No.
Gann Zig Zag + Gann Forex Scalper MT4 Scalping Strategy
This MT4 scalping strategy combines the Gann Zig Zag Forex Indicator with the Gann Forex Scalper Indicator.
It is ideal for intraday scalpers aiming to capture quick moves in line with short-term trend changes.
The Gann Zig Zag Indicator identifies trend bias based on price relative to the purple GANN line: a close above signals a bullish trend, while a close below signals a bearish trend.
The Gann Forex Scalper gives precise entry points with green arrows for buys and red arrows for sells.
Buy Entry Rules
- Confirm that the price closes above the purple line on the Gann Zig Zag Forex Indicator to indicate bullish momentum.
- Wait for the Gann Forex Scalper to plot a green arrow.
- Enter a buy trade at the open of the next candle after the green arrow appears.
- Place a stop loss below the recent swing low or a nearby support level.
- Take profit at the next minor resistance, major resistance, or a dynamic pip target based on volatility.
Sell Entry Rules
- Confirm that the price closes below the purple line on the Gann Zig Zag Forex Indicator to indicate bearish momentum.
- Wait for the Gann Forex Scalper to plot a red arrow.
- Enter a sell trade at the open of the next candle after the red arrow appears.
- Place a stop loss above the recent swing high or a nearby resistance level.
- Take profit at the next minor support, major support, or a dynamic pip target based on volatility.
Advantages
- Effective for spotting short-term trend reversals and breakouts.
- Clear and visually intuitive signals reduce decision-making time.
- Suitable for multiple forex pairs, including EUR/GBP, AUD/USD, and USD/JPY.
- Scalper arrow confirmation helps improve entry timing and trade precision.
- Allows flexibility with multiple take-profit targets to manage risk and reward.
Drawbacks
- Less reliable in highly choppy or sideways markets.
- Requires active monitoring due to fast-moving intraday signals.
- It can produce frequent small losses if trades are entered prematurely.
- Performance may vary depending on pair volatility and session liquidity.
- Stop losses can be triggered by sudden spikes or slippage, especially during news events.
Case Study 1: AUD/USD 5-Minute Chart
On the AUD/USD 5-minute chart, the price closed above the purple Gann Zig Zag line, indicating a bullish trend.
Shortly after, the Gann Forex Scalper displayed a green arrow at 0.6720.
A buy trade was entered with a stop loss at 0.6705.
The price advanced to the next minor resistance at 0.6740, then reached major resistance at 0.6755, capturing 20–35 pips.
This demonstrates how the strategy can effectively ride short-term upward trends.
Case Study 2: EUR/GBP 1-Minute Chart
On the EUR/GBP 1-minute chart, the price closed below the purple Gann Zig Zag line, signaling bearish momentum.
The Gann Forex Scalper plotted a red arrow at 0.8690.
A sell trade was executed with a stop loss at 0.8702.
The price dropped to minor support at 0.8675, then extended to major support at 0.8665, capturing 15–25 pips.
This shows the strategy’s ability to capture quick intraday declines on different pairs.
Strategy Tips
- Focus on high-liquidity pairs to reduce spread costs and slippage.
- Combine with higher timeframe trend analysis to confirm the short-term direction.
- Scale out of positions at multiple support or resistance levels to secure profits.
- Monitor news events to avoid entering trades during potential volatility spikes.
- Keep a trading journal to track entry timing, exits, and overall performance for optimization.
- Practice on a demo account before applying to live accounts to refine reaction times to signals.
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Download the “gann-zig-zag-indicator.ex4” indicator for Metatrader 4
