How to Trade Forex Using the Zigzag Indicator

The Zig Zag indicator is one of the momentum indicators in Metatrader. Usually, this indicator will give a signal to provide clarity of changes in movement in the direction of the trend earlier than the Parabolic SAR Indicator. The zigzag indicator is also wrong an accurate indicator tool to provide entry signals.

The following is for the settings, in this case, I use 2 zigzag indicators with different settings as follows:

1 . zigzag indicator

Depth: 12
Deviation: 5
Backstep: 3
color: yellow

2. Zigzag indicator

Depth: 24
Deviation: 5
Backstep: 3
color: red

For more details, you can look at the image below:

Zigzag indicator

How to use the zigzag indicator for forex trading.

BUY

when zigzags 12 and 24 meet in the support area

SELL

when zigzags 12 and 24 meet in the resistance area

I think using the Zigzag indicator is quite easy and simple to apply. We recommend using it on GU/EU TF H1 with a profit target of 30-50 pips, while the ideal time to implement this strategy is in the morning around 06.00, and in the afternoon around 12.00.

That is the meaning of the zigzag indicator and how to use it in forex, the zigzag indicator has several advantages that benefit traders.

You can find out and learn about this indicator in FOREX by opening a demo account first.