Zig Zag Indicator & Order Block Indicator

[marketingdigitalenergy]

Zig Zag Indicator​

The Zig Zag indicator is a technical analysis tool used to filter out minor price movements and highlight significant trends. It is designed to identify changes in the direction of price movement, eliminating small fluctuations to focus on major market trends. The indicator does this by connecting significant price points, usually based on a specified percentage move. For instance, a Zig Zag set at 5% will only connect points where the price changes by 5% or more. Traders use the Zig Zag indicator to identify wave patterns, support and resistance levels, and possible trend reversals. It is particularly useful for identifying Elliott Wave patterns and can be applied to various time frames, making it versatile for different trading strategies.

Order Block Indicator​

The Order Block Indicator is a tool used to identify areas of accumulation or distribution by large institutional traders. Order blocks are specific price ranges where significant trading activity has occurred, leading to the creation of a large volume of orders. These blocks often act as strong support or resistance levels in the market. The indicator helps traders pinpoint these key areas where large market participants are likely to influence price movement. By identifying order blocks, traders can make more informed decisions about potential entry and exit points, anticipating where significant price movements might occur. The Order Block Indicator is especially valuable in identifying high-probability trading zones, aiding traders in optimizing their strategies.

 

[ifibecome]

Can you discuss ZigZag settings. Also can you mention the order block indicators name and setting.

 

[Fxzombie]

I think the order block indicator is quite interesting because it anticipates large investor orders, but its accuracy is still questionable.

 

[sikocano]

The Zig Zag Indicator is a tool that helps traders see big price changes by ignoring small ups and downs. It connects important price points based on a set percentage, making it easier to spot trends and patterns.

The Order Block Indicator shows areas where big traders buy or sell a lot. These areas can become strong support or resistance levels. This tool helps traders decide when to enter or exit trades by highlighting where major price movements might happen. Both indicators help traders make better decisions about their strategies.

 

[pippin]

Zig Zag Indicator​

The Zig Zag indicator is a technical analysis tool used to filter out minor price movements and highlight significant trends. It is designed to identify changes in the direction of price movement, eliminating small fluctuations to focus on major market trends. The indicator does this by connecting significant price points, usually based on a specified percentage move. For instance, a Zig Zag set at 5% will only connect points where the price changes by 5% or more. Traders use the Zig Zag indicator to identify wave patterns, support and resistance levels, and possible trend reversals. It is particularly useful for identifying Elliott Wave patterns and can be applied to various time frames, making it versatile for different trading strategies.

Order Block Indicator​

The Order Block Indicator is a tool used to identify areas of accumulation or distribution by large institutional traders. Order blocks are specific price ranges where significant trading activity has occurred, leading to the creation of a large volume of orders. These blocks often act as strong support or resistance levels in the market. The indicator helps traders pinpoint these key areas where large market participants are likely to influence price movement. By identifying order blocks, traders can make more informed decisions about potential entry and exit points, anticipating where significant price movements might occur. The Order Block Indicator is especially valuable in identifying high-probability trading zones, aiding traders in optimizing their strategies.

Looks promising, how can I try it on my HFM practice account first?

 

[Fxzombie]

One thing that might need to be paid attention to about the zigzag indicator is that it is a repaint indicator, besides paying attention to peaks and valleys, it is a good idea to pay attention to price action when the indicator starts drawing new signals.

 

[gaston]

The Zig Zag Indicator is a tool that helps traders see big price changes by ignoring small ups and downs. It connects important price points based on a set percentage, making it easier to spot trends and patterns.

The Order Block Indicator shows areas where big traders buy or sell a lot. These areas can become strong support or resistance levels. This tool helps traders decide when to enter or exit trades by highlighting where major price movements might happen. Both indicators help traders make better decisions about their strategies.