Road Map MT4 Indicator: an Alternative to the Classic ZigZag

Road Map MT4 indicator

The Forex market, teeming with potential for profits, requires sharp trading acumen and proficient use of technical analysis tools. A cornerstone in this domain is the Road Map MetaTrader 4 (MT4) Indicator, a sophisticated modification of the renowned ZigZag Indicator. The Road Map indicator builds on the principles of wave theory and paints a comprehensive picture of price trends directly on the chart, enabling traders to navigate the complex market landscape more effectively.

The Underlying Principle: Chuvashov’s Wave Theory

At the heart of the Road Map indicator lies Stanislav Chuvashov’s wave theory, a fundamental departure from the classic ZigZag indicator’s principles. Chuvashov’s theory views the Forex market as an ecosystem of waves, with price trends comprising impulse and corrective waves. This theory is crucial to understanding the workings of the Road Map indicator, as it forms the core of its analytical framework.

Understanding the Markings of the Road Map Indicator

The Road Map MT4 indicator makes several distinct markings on the price chart, each contributing to a comprehensive analysis of market movements. These markings include:

  1. Impulse Waves: Represented by thick oblique lines, impulse waves indicate the main direction of the price trend.
  2. Corrective Waves: Depicted as thin oblique lines, corrective waves signify minor retracements within the overall trend.
  3. Upward and Downward Wave Series: The indicator marks a series of upward waves in blue, indicating a bullish trend, and downward waves in purple, signaling a bearish trend.
  4. Wave Series Lengths: The numbers near the ZigZag peaks indicate the lengths of wave series, providing insights into the duration and extent of the trend.
  5. Breakout Levels: The indicator plots short green and red lines to show the breakout levels of a series of waves, offering potential entry points.
  6. Profit-Taking Targets: A Fibonacci grid, drawn from the line of the beginning of the wave series, indicates potential profit-taking levels.

Incorporating Road Map MT4 Indicator into Trading Strategies

The Road Map indicator stands as an excellent alternative to the ZigZag indicator, demonstrating utility beyond trend trading strategies. Its ability to plot impulse and corrective waves, along with wave series and breakout levels, empowers traders with a profound understanding of market movements, making it a potent tool for Forex market analysis.

For instance, a trader can use the indicator to identify potential bullish or bearish trends by observing the color of the wave series. A blue series signals an opportune moment to consider a long position, while a purple series might indicate a potential short position.

Moreover, the indicator’s breakout level markings provide timely cues for entry points, enabling traders to seize profitable trades. By using the Fibonacci grid as a guide, traders can also identify strategic levels for taking profits, maximizing their return potential.


In conclusion, the Road Map MT4 Indicator, rooted in Stanislav Chuvashov’s wave theory, offers a powerful means of dissecting Forex market trends. By accurately plotting various wave patterns, breakout levels, and profit-taking targets, this indicator allows traders to navigate the often volatile Forex market with clarity and precision. The integration of this tool into trading strategies not only enriches technical analysis but also enhances traders’ ability to make informed and profitable trading decisions.

Features of Road Map MT4 indicator

  • Platform: Metatrader 4
  • Ability to change settings: Yes
  • Timeframe: any from 1 Minute to Daily
  • Currency pairs: any

In file you will find:

  • road_map_v01.ex4

Download Road Map MT4 indicator for free:

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