ZZI Indicator
Platform: MT4 Type: Oscillator Last update: November 4, 2024The ZZI indicator for MT4 is an oscillator useful for determining trade entry and exit points.
Tyically, it recognizes an oversold/overbought market state. When it exceeds the 100 level, it means the price is overbought. You can open a sell trade when the signal line turns yellow. Similarly, when it drops below the -100 level, it means the price is oversold. You can open a buy trade when the signal line turns red.
We suggest using in with conjunction with some trend direction filters, i.e. moving average, and open trades only in agreement with a dominant trend.
Example chart:
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