When it comes to identifying market trends, the ZigZag indicator is your best friend. This handy tool helps you visualize each trend with colorful rectangles, making it easy to spot significant price movements at a glance. Plus, you'll find valuable insights about the trend, including horizontal size, average volume, and speed in pips/hour, displayed right in the corners of your chart.
Check it out:
Pro Tips:
This indicator is not just for trend spotting; it can also be a powerful tool for analyzing Elliott Waves. By keeping an eye on changes in price velocity, you can make more informed trading decisions and potentially boost your profits.
- Use the ZigZag to confirm your Elliott Wave counts.
- Watch for trends and reversals to time your entries and exits effectively.
- Combine the indicator with other tools for a well-rounded trading strategy.