Non repaint zigzag indicator forex
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However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly. We recommend that you use higher time frames like the 4H for better consistency. We humbly request for your help to spread the word by sharing on one of the social platforms below. To unlock the download link , you just need to share this page to help us achieve our goal of helping more traders out there.
If you like this indicator, you might like see other indicators that we have carefully selected that will help you in your trading journey. We hope you have enjoyed this post as much as we have creating it. Good luck and thank you for your readership. Of course, you need to open a live account Both Forex Brokers have excellent rating! This is based on a rising or falling pivot high or pivot low pattern.
Although price action is a very reliable technique for trading, not all traders are confident enough to objectively identify such pivot highs and pivot lows. The Double Zigzag — No Repaint indicator is a tool that can help traders objectively identify such pivot highs and pivot lows for the purpose of identifying price action characteristics.
The Double Zigzag — No Repaint indicator is a custom technical indicator which is based on the Zigzag indicator. It has been modified to plot dots instead of zigzag lines to indicate pivot highs and pivot lows. It is also characteristically more sensitive in identifying pivot highs and pivot lows causing it to paint more dots compared to the pivot highs and pivot lows available on traditional Zigzag indicators. One is a faster moving Zigzag indicator, while the other is slower.
This duplication of Zigzag indications causes it to be more sensitive in detecting pivot highs and pivot lows compared to most Zigzag indicators. Based on the faster Zigzag indicator, it plots dark orange dots to indicate pivot lows, and blue dots to indicate pivot highs. However, the slower Zigzag indicator plots dark orange dots regardless of whether it is detecting a pivot high or pivot low.
This function makes the indicator plot dots only at the close of a bar, making it a non-repainting indicator. This indicator can be used to determine trend direction based on price action. Pivot high dots and pivot low dots that are consistently rising indicate an uptrend market, while pivot high dots and pivot low dots that are consistently falling indicate a downtrend market.
The pivot high and pivot low dots can also be used as a short-term momentum reversal signal and can be used as an entry trigger in confluence with other technical indications.