ZigZag WS Channel RV 2 Indicator
Platform: MT4 Type: Pattern Last update: October 6, 2024The ZigZag WS Channel RV 2 indicator highlights the swing points of the price.
It connects the swing high and swing low points of the price that work as trendline support and resistance. With multiple trendlines, this indicator works as a trend-following price channel as well.
Whenever the price intends to rebound from the trendline zone, look for a price action buy/sell signals for potential entry point. Moreover, you can use the price swinging levels as the stop-loss areas for your active orders.
Furthermore, this forex indicator also shows numeric states of each trend movement of the price. It includes the average movement ratio, number of price bars, and total number of pips per move.
