2 Answers
<p>When you apply a Zigzag indicator to a chart, it clears up a lot of the noise over the longer term moves, thereby making it much more effective on longer-term charts than shorter-term charts. It is shown by a simple line on the chart that almost looks like a trend line, but it doesn’t pay attention to the highs and lows of a specific set of candlesticks. It simply draws out the trend. </p>
4 Views
<p id="isPasted">The Zig Zag indicator in MT4 works by filtering out small, insignificant price movements to connect only the significant peaks and troughs, thereby simplifying the price chart and making it easier to spot trends and potential reversal points. It connects these significant points with lines after the price moves a specified percentage, which is a customizable parameter. The indicator provides a clearer picture of the overall market direction, helping traders identify major trend changes and potential support/resistance levels by removing market noise. </p><p>How It Works</p><p>Price Movement Threshold: The core of the indicator is a set percentage (often 5%) …</p>
1 View
Please select pages to share
shared
