zigzag 4 MP

The Zig Zag indicator is a technical analysis tool that helps traders filter out market noise and identify potential trends by connecting significant price swings. It focuses on major price movements, ignoring minor fluctuations, thus simplifying price action analysis. This indicator is particularly useful for identifying support and resistance levels and can be used in conjunction with other indicators like the Elliott Wave Theory. How it works:

• The Zig Zag indicator plots lines connecting swing highs and swing lows on a price chart. 
• Traders set a percentage threshold for price movement, and the indicator only draws a line when the price change exceeds this threshold. 
• This threshold helps filter out small, insignificant price fluctuations, making it easier to spot larger trends. 

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