Zig Zag Channel Indicator

Platform: MT4 Type: Channel

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Last update: November 1, 2024

The ZigZag Channel Indicator for MT4 combines typical high-low moves with channel lines and in the result it provides a great visualization and even confirmation of the potential entries.

What’s more, directly on chart it additionally places some very insightful data, including:

• Pips difference from previous point.
• The number of bars from previous line.
• The average growth or decline change of the move.

How to trade?

This indicator is designed to filter out the smaller price movements – ignoring the ‘noise’, traders have a better image of market and price swings in the place. Accounting an added channel it’s easier to predict where price is moving.

Of course, short opportunities occur near the upper blue channel band. Converesely, potential long chances happen near the lower yellow band.

Example chart:

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