If you're looking for a straightforward trading tool, the Fractal ZigZag indicator might just be what you need. This indicator generates signals based on Fractals combined with the original ZigZag indicator, and it does so without any extra filtering.
One of the standout features of this indicator is that it never repaints past signals. This means you can confidently analyze the real behavior of the ZigZag over time, which is especially important since the standard ZigZag does tend to repaint its signals.
That said, it’s essential to complement the signals this indicator provides with your own trading strategy. Feel free to tweak the source code if you want to customize it further.
As you can see, many signals from the traditional ZigZag can change after the fact, so having a reliable indicator like this can help you make more informed decisions.
For reference, this indicator is based on the original MetaQuotes ZigZag indicator and is attached for your convenience.
Recommendations:
- Don’t rely solely on this indicator for trading decisions.
- Consider using this indicator template to filter signals alongside your existing trading strategy.
Features:
- Customizable ZigZag parameters
- You have the option to evaluate bar zero or not
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