ZigZag

ZigZag - An indicator that filters out minor price moves and connects significant swings. It draws lines only when price reverses by a set percentage (e.g. 5%), effectively highlighting the main trend swings. ZigZag itself is non-predictive but helps identify swing highs/lows and potential support/resistance zones. Robots use ZigZag points for swing trading or Elliott Wave analysis. MQL has an internal ZigZag object or via iCustom; cTrader provides Indicators.ZigZag().