“Draw a line whenever the price makes a 5% advance or decline alternatively” If you give the zig zag indicator a specific instruction for example: “And repeat until you reach your destination”Īnd it’s the same for the zig zag indicator! “Turn right after three road intersections.” Then I give you this specific instruction: “Hey man, I’m lost, any directions to the nearest cozy hotel?” You’re lost and you’re wondering how to reach the nearest hotel. HOW does it actually produce those lines? You can find it on many different platforms! Then let’s get started… What is the zig zag indicator and how does it workīut the zig zag indicator is as accessible as the moving average. It brings objectivity to subjectivity so every trader sees the same thing when using this indicator!Īnd the zig zag indicator my friend, is what I’m going to share with you more about today. When markets get erratic and charts get harder to read, there’s a chance your trades could be subjective. So, out of all the variations that I showed you… There’s also a chance that you could’ve plotted it like this: There’s a high chance that you could’ve plotted the highs and lows like this: This post is written by Jet Toyco, a trader and trading coach.
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