" The Zig Zag Indicator is a series of trendlines that connect significant tops and bottoms on a price chart. The Minimum Price Change parameter specifies the percentage that the price must move in order to form a new "zig" or "zag" line.
The Zig Zag indicator filters out changes in an underlying plot that are less than a specified amount. The Zig Zag indicator only shows significant changes. The minimum price movements are set in percentage terms and can be based on either the close or high/low range.
Example: A ZigZag set at 10% with OHCL bars would yield a line that only reverses after a change from high to low of 10% or greater. All movements less than 10% would be ignored. "