DislikedWould you be willing to tell me how you Trade using it? By the time it reverses, The move is at least half over.Ignored
hey mr d...... look at the eurusd daily chart below....... the zigzag has still not been drawn on this move down...... that's perfectly ok...... and when it does, on average the move will be half over....... that's perfectly ok...... as mentioned before, half a bundle is still a bundle......
if you know the average length in both pips and bars for each zigzag leg, it can instill confidence...... i rather short using 240 chart signals when the daily alma turns red with the last daily zigzag leg being up, than short when the alma turns red and the last daily leg was down.....
the zigzag indicator here is a combination indicators i wrote for ace, blackfeet and others years ago..... the different colored lines are the fib retracements of the last leg...... indicator in post 1....
the average zigzag leg can be used a profit target or better still at times, in hard trending markets 1/4 average zigzag leg trailing stop with no profit target......
the average bars required for zigzag(12,5,3) is around 17...... the average bars required for a zigzag(5,5,3) is around 7......
so if the last daily eurusd zigzag leg was 700 pips and 31 bars long, i'd be gittin out of dodge........h
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to trade and code, keep both simple... no call to impress....h