Post Zigzag Indicator (Works on Build 1420) | Forex MT4 Indicators
The Post ZigZag Indicator for MT4 plots the previous highs and lows in a zigzag wave. ZigZag waves recalculate if the price makes new higher highs in an uptrend or lower lows, potentially turning into trading opportunities. Forex traders can use this indicator to identify support and resistance levels, enhancing their entry points.
Post Zigzag Indicator for MT4: A Powerful Tool for Forex Traders
Introduction
The Post Zigzag Indicator is a versatile tool that helps forex traders identify potential trading opportunities based on failed higher highs and lower lows. In this article, we’ll explore how this indicator works, its trading signals, and best practices for using it effectively.
Key Features
- Indicator Description: The Post Zigzag Indicator plots the previous highs and lows in a zigzag wave pattern. It recalculates when the price makes new higher highs in an uptrend or lower lows, providing multiple trading opportunities.
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Trading Signals:
- Failed Higher Highs: The indicator plots red zigzag lines and blue vertical lines on higher highs. These failed higher highs serve as potential entry points.
- Failed Lower Lows: Yellow vertical lines indicate failed lower lows, which also offer trading opportunities.
- Support and Resistance: Failed higher highs and lower lows can act as dynamic support and resistance levels. Traders can use these levels to identify optimal entry points.
Trading Signals and Strategy:
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Failed Higher Highs and Lower Lows:
- The indicator displays red zigzag lines and blue vertical lines on higher highs, as well as yellow vertical lines on lower lows.
- These represent failed higher highs and lower lows that previously formed as part of a ZigZag wave.
- Traders can use these levels as potential entry points.
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Entry Strategy:
- When the Post Zigzag Indicator identifies a failed higher high or lower low, consider entering the market.
- Start with a smaller risk, anticipating that the trade will materialize into a zigzag wave.
- Many traders exit their positions once the indicator recalculates.
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Support and Resistance:
- Failed higher highs and lower lows can also act as support and resistance levels.
- These lines help traders identify optimal entry points.
- Keep an eye on how these levels change as price moves in the opposite direction.
Implementation Details:
- Minimum Deposit: There is no specific minimum deposit required to use the Post Zigzag Indicator. It works with any account size.
- Time Frame: The indicator can be applied to any time frame, from short-term scalping to long-term swing trading.
- Currency Pairs: It works well with all major currency pairs (EUR/USD, GBP/USD, USD/JPY, etc.) and even crosses and exotics.
What’s in the package?
Indicator :
- Post-zigzag.ex4
- Post-zigzag.mq4
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Buy The Post Zigzag Indicator MT4 is a technical analysis tool designed to identify significant reversal points in the price action of financial instruments. It does this by connecting highs and lows with straight lines, helping traders to visualize the underlying trend and potential swing points. This indicator is particularly useful for swing traders and those who rely on identifying key support and resistance levels to make informed trading decisions.