Sign In with Google
Sign In with Facebook
The ZigZag Buy Sell indicator is a modification version of ZigZag, which is already available in the standard forex set. According to the strategy, the ZigZag Buy Sell indicator does not differ much from the standard version, their difference lies only in visualization. The new indicator is represented on the chart in the form of the same zigzag lines, but with the addition of arrows that allow quickly determining the direction of the trade, which is made during a certain trend. In addition, ZigZag Buy Sell signals are more accurate, and therefore trading is made with a good profit.
ZigZag Buy Sell, like the standard version, can be used on any timeframe, using any currency pair.
Input parameters
The ZigZag Buy Sell indicator has only two input parameters in its settings. To create own trading scheme, it is recommended to experiment with their values. In addition, it can be changed the color scheme and thickness of its values in the indicator settings.
- KeelOver - indicator parameter responsible for the sharpness of the change in the direction of the indicator. The default value is 55.
- Slalom - indicator descent parameter. The default value is 17.
Indicator signals
In order to open a certain position using the ZigZag Buy Sell indicator, it will not take much effort, since its use is very logical and simple, and, moreover, very effective. To enter the market, it should be only followed the appearance of new arrows, their colors and directions, as well as the directions of the zigzag lines. If the conditions formed on the basis of these factors match on the candle, a certain position can be opened.
Signal for Buy trades:
- An arrow appears under a certain candle, which has a color with a value of growth and is directed upwards. The ZigZag line moves upwards.
After receiving such a signal, a long position may be opened on a certain candlestick. It should be closed as soon as a small circle appears on one of the new candlesticks. This will indicate a weakening or possible change in the current trend, which will allow opening new positions in its direction.
Signal for Sell trades:
- A new arrow appears on the chart, pointing down and colored with the fall value. At the same time, the ZigZag line should move in the downward direction.
After receiving such conditions, a short position can be opened on the signal candle. It should be closed after a small circle appears on a certain candle. This will signal a weakening or end of the current trend, and in this case, it can be considered opening new trades.
Conclusion
The ZigZag Buy Sell indicator is not only easy to use due to the presence of arrows that indicate the optimal moment to enter the market and indicate the direction of the trade, but it is also very accurate in its calculations, as it is based on a very effective time-tested trading indicator. To master for all trading skills and the use of the indicator, preliminary practice on a demo account is recommended.
