Zig Zag
Zig Zag: joins swing highs and lows that moved at least a set percentage, filtering out noise to show the market's legs.
How to read it
- Each leg is a move larger than the deviation; smaller wiggles are ignored.
- Labels show the reversal price, the change and the leg volume at each pivot.
- Useful for reading swing structure and measuring legs.
Key settings
- Price deviation 5 %, pivot legs 10.
- Projected last leg, reversal price, change (Absolute or Percent) and cumulative volume on.
Good to know
- Drawn on the price pane, over the candles.
- The last leg is provisional and moves until the next pivot is confirmed.