Indicator Zigzag
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Thread: Indicator Zigzag

  1. #1
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    Indicator Zigzag

    Welcome to this thread friends, I am participating in all robo forex forum contests, and here we go. There is one more contest for us, where we can share our indicator's features and can give a best education to forum members. The title of my thread is Indicator Zigzag, and in this thread I am going to right a review on Zigzag Indicator. I am very thankful to forum admin that robo forex forum bringing new contests on time to time for all forum member's.

    Description : I am a swing trader so I like to use zig zag indicator in my trading system. I have a very good experience of zig zag so want to describe more about this indicator. You can use zig zag indicator to follow the market trend, to check the momentum of the market, and to check the reversal points during trading. Its a very powerful indicator for those trader's who using fibonacci tool in trading. Zig zag indicator also a good indicator to find out the dynamic support and resistance points, other pattern's like double top, double bottom, triple top, triple bottom, head and shoulder, inverted head and shoulder etc. So its a complete package for trader's.

    Zig Zag Features: There are many features of zig zag indicator they are as follows:

    I. This is a very good news for those trader's who like to use fibonacci retracements and elliot waves because these use the concept of swing high swing low. Even in more other patterns in which we can apply the concept of swing high and low this indicator could be effective there too.

    II. It give a clear indicator about a strong market uptrend and a strong bearish downtrend market confirmation. Its not very scary, or complex indicator like other's, We have to just implement it on our chart and it will still make our chart very clean and easy for analysis. The action of zig zag on chart is very smooth.

    Zig zag a.JPG

    III. Zig zag provide consistency in trading, because it would not give you a lot of false signals. Which is essential for removing mistakes and evaluating your trading performance. All we know that consistency is our main objective in this field, which could make us a professional trader.

    IV. Zig zag produce a good pattern's knowledge to trader's. The most important things is trader's can learn about the important support and resistance with the help of zig zag indicator. Because its automatically create lines on Major support and resistance points and create a strong support and resistance area every time.

    Zig zag 2.JPG

    V. Its not only about support and resistance, trader's can learn more from double top and double bottom patter, Triple top and triple bottom pattern, Head and shoulder pattern, Inverted head and shoulder pattern, etc. I have gained a very good experience of these all pattern's in last 1 year through the help of zig zag indicator.

    Zig Zag Setting In Mt4 Terminal:
    1. First of all you have to download the Zig zag indicator for your mt4 terminal.

    Zig zag 3.JPG

    2. Now click on insert and choose Zig zag.
    3. Just apply zig zag on mt4 terminal charts.
    4. It will appear in mt4 terminal screen, there is nothing very tough to understand about zig zag indicator, its a simple indicator and you can apply easily this on your mt4 chart.

    Drawbacks of Zig Zag Indicator: There are couple of draw backs of zig zag indicator they are as follows.
    I. Make sure that you are no searching for any holy grail on the net, because there is no holy grail trading system in this world. This indicator would not give you 100% winning signals.

    II. Follow proper trading plans, and enter with plan b always, some time you can get false signals by zig zag.

    III. Follow the major trend when you enter in the market, and then you can avoid the short term trend, or reversal in the market. In a major trend you can get best advantage from this indicator, otherwise less experience of it could be harmful for you.

    IV. Zig zag perform also good in sideways market but make sure that you are following the market trend first. You can use the horizontal lines in your mt4 terminal, with the use of zig zag indicator to gain some profit in sideways or ranging market. Don't depend much upon sideways market condition, because its less effective and there is big risk and less reward in it.

    My Recommendations: I am using zig zag since a very long time now, and I mostly like to follow the differ types of pattern in this indicator, I mostly follow major support and resistance points and wait for double top, double bottom, head and shoulder etc. You can also apply the same analysis in the market.

    Don't ever try to take 20 to 30% per trade, because many novice trader's start to take indicator's their buy and sell signals, I will say again that there is no holy grail in forex. So its essential to use proper money management and risk management in trading.

    I hope you found this to be a beautiful Indicator Zig Zag thread. And once again I am very thankful to read my thread. Have a awesome day.
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  2. #2
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    Well buddy this is looking best for technical trader's, so what about your experience with zig zag indicator? Since when you are using this in your trading system? I want to know that how can I use this in short term trading?

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    Trader Hukam's Avatar
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    What a great thread mate, Its a best indicator for those trader's who like to use technical analysis in trading. And I am also one of them, you really explained in a great way that how we can learn about differ types of patterns with this zig zag indicator. I am not using this indicator yet, After checking screenshots of your thread, its really looking necessary to use this indicator. Fantastic, My trading is all about support and resistance so its a big bonus for me

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    Registered user nsawork's Avatar
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    It is already known to us that the markets are actually moving in a Zigzag pattern and this is why we have to make use of this Indicator. If we are aware of the basic swing patterns that we see then we are in a better position to do our trades and thus the results that we are getting also get affected.

    Though i am not doing Swing based trades any more as i prefer to do trading in the Intra-day only

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  5. #5
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    Quote Originally Posted by nsawork View Post
    It is already known to us that the markets are actually moving in a Zigzag pattern and this is why we have to make use of this Indicator. If we are aware of the basic swing patterns that we see then we are in a better position to do our trades and thus the results that we are getting also get affected.

    Though i am not doing Swing based trades any more as i prefer to do trading in the Intra-day only
    Mate swing trading is a style of trading, you can do intra day trading and can follow the swing trading too, but then you have to follow very short term time frame chart for trading. I would suggest trader's to use long term time frames or one another thing is risk management, waiting for the thread creator reply about this concern.

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    Quote Originally Posted by Earnperfect View Post
    Well buddy this is looking best for technical trader's, so what about your experience with zig zag indicator? Since when you are using this in your trading system? I want to know that how can I use this in short term trading?
    I am a swing trader so I like to use this indicator and patterns and H4 time frame. Your are right for technical trader's or lover's it could be a best pattern maker indicator during trading. Even I enjoy sideways trading too with the help of zig zag. I am using zig zag more than 2 year's now. I am a part timer trader, so I do only long term trading, I use h4 plus zig zag plus EMA 50. If you want to do short term trading then I would suggest you to use H1 time frame, EMA 20, Zig zag hope it will help you sir.

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    Quote Originally Posted by nsawork View Post
    It is already known to us that the markets are actually moving in a Zigzag pattern and this is why we have to make use of this Indicator. If we are aware of the basic swing patterns that we see then we are in a better position to do our trades and thus the results that we are getting also get affected.

    Though i am not doing Swing based trades any more as i prefer to do trading in the Intra-day only
    Quote Originally Posted by Hukam View Post
    Mate swing trading is a style of trading, you can do intra day trading and can follow the swing trading too, but then you have to follow very short term time frame chart for trading. I would suggest trader's to use long term time frames or one another thing is risk management, waiting for the thread creator reply about this concern.
    Swing trading is one of the powerful trading system in this business, but you need a lot of practice and experience first of it. I think its possible to do swing trading in short term time frames, but I never tried very smaller time frames like M1, M15,M30 etc. I would suggest everyone to use H1 time frame at least if they want to utilize zig zag buy sell in a best way. Risk management is a part of our trading and we have to use this in all types of trading methods, no trader can ignore risk management in trading.

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  7. #7
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    I love the way you described about, indicator zig zag in this thread, before I was not much interesting in it but now am much interested about it when you are saying that we can use moving average with this indicator to generate good and accurate signals, I always like to say that I love moving average, H4 is my favorite time frame too, it will be very interesting soon I will test Moving average 50 and zig zag combination.

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    Quote Originally Posted by Khimi234 View Post
    I love the way you described about, indicator zig zag in this thread, before I was not much interesting in it but now am much interested about it when you are saying that we can use moving average with this indicator to generate good and accurate signals, I always like to say that I love moving average, H4 is my favorite time frame too, it will be very interesting soon I will test Moving average 50 and zig zag combination.
    Nice to hear that you are much satisfied with the use of moving average and very interested about this thread and indicator zig zag. I am a very glad that you are learning something from my thread, hope you will gain good confidence to do trade with zig zag, first of all test it in your demo trading account, I think you are a regular user of EMA 100 and EMA 200, you can test ema 50 and zig zag combination along with ema 100, ema 200. I never used this, but you can give a try

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    Trader Hukam's Avatar
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    As far I know about moving average its one of the best indicator's that's why we are able to see too many user's of moving average indicator in this forum, I am also using moving average (EMA 200), and applying it on Daily chart. The good thing about 200 EMA is that if we get a good entry point in daily chart then there is a possibility to gain 1200 to 1700 pips from one single trade.

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    Quote Originally Posted by Hukam View Post
    As far I know about moving average its one of the best indicator's that's why we are able to see too many user's of moving average indicator in this forum, I am also using moving average (EMA 200), and applying it on Daily chart. The good thing about 200 EMA is that if we get a good entry point in daily chart then there is a possibility to gain 1200 to 1700 pips from one single trade.
    What a great answer sir nice , Moving average is a very common used indicator, that's why its very popular, most of newbies also use moving average to learn about forex trend following trading strategy, and its easy to follow the trend by moving average rather than using a manual trading analysis for this. I have a good experience of moving average and zig zag only in H4 time frame for now, But I also think that in daily chart we could get massive amount of pips with moving average.

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