If you're looking to enhance your trading game, the ZigZag indicator could be your next go-to tool. This indicator is all about spotting potential trends by connecting the dots of price movements.
Let’s break down the pattern it uses:
Here's what to look out for:
- A — Represents a double bottom.
- The C level must sit above the B level.
- The D level should also be above the C level.
Quick Tips:
- This indicator shines on the EURUSD M15 timeframe using default settings, but feel free to test it out on other timeframes.
- Since the ZigZag indicator is redrawn, it's wise to put it through its paces in the strategy tester before going live.
The images below illustrate a series of signals triggered by the indicator, all sorted by the time of publication, using the EURUSD M15 timeframe:
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