The ZigZag Indicator
ZigZag's primary goal is to focus on significant swings and trends by removing insignificant and misleading price changes.
ZigZag connects the price's highest and lowest points using straight lines while ignoring minor swings.
ZigZag just aims to make sense of the market's previous movements; it makes no attempt to predict the price of an item.
It is only based on hindsight and is not predictive in any way. It is based on the past prices of securities and cannot forecast the next swing highs and swing lows.
🟢Advantages: It eliminates market noise and displays the most significant price fluctuations. It operates in several timeframes. When utilized in cooperation with other technical indicators, it gives positive results.
🔴Disadvantages: It will mark the latest high or low of the price with a time lag. The last stretch of the indicator (the one that involves the current price) may be redrawn. Not predictive in any way, has to be used in combination of other strategies to be effective.
