![]() ![]() How the Zig Zag indicator appears on the chart. Of course, Trade Station did this some years ago along with implementing a. The Zig Zag indicator is a basic tool that analysts use to analyze the price action of a security to spot trends and patterns. Metastock zig zag indicator Dear Sir, Thank you for replying. It helps in spotting price swing points which act as support and resistance areas, and thus, helps in filtering out irrelevant price swings or fluctuations that may constitute noise at best. Since it can be used to identify support and resistance price levels in a market, the indicator is often employed with Elliott Wave Analysis to help identify the beginning and end of each wave. By determining the support and resistance areas, it helps to identify significant changes in price while filtering out short-term fluctuations. The Zig Zag indicator is a versatile indicator that serves many. This helps to show the price waves that should be counted when performing the Elliot Wave Analysis. The average daily range indicator is a custom indicator designed for the MT4 trading platform. It is a good trading indicator for any trader who follows indicators that use swing highs and swing lows. The Zig Zag indicator is good only for analyzing historical data to spot existing patterns and trends. Here is the Tradestation 10 About window: About window in Tradestation 9.5. It is not predictive in any way - only based on hindsight. While it can delineate key past price swings of securities, it cannot be used to forecast the next swing highs and swing lows. ![]()
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