Depending on the charting platform that you use, you may find different default settings.ĭepth is the first setting in the zig zag indicator. These settings reflect the zigzag indicator for the MT4 platform. Despite just three settings, the zigzag indicator can be tweaked to fit different market conditions.įigure 2 below shows the zigzag indicator parameters. There are just three variables to use or rather three settings. The zigzag indicator is rather simple in terms of the settings. How to set the forex zigzag indicator parameters? In addition, we will explore some examples of how you can use the zig zag indicator in building various trading strategies. You will learn how to make use of the zigzag drawing tool and tweak the settings. The zigzag indicator is quite versatile and in this article, you will learn how to use the zigzag indicator in forex trading. The name is derived from the way the indicator plots the zig zag lines as it follows the swing high and low points in price. In the chart below, Figure 1 shows a forex zig zag indicator. Therefore, the indicator plots the trends in the markets, while ignoring minor price retracements. What the zig zag indicator does is, basically filter out the price movements based on the settings.
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