Way to approach the ZigZag indicator! (?)

Quoting VEEFX

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{quote} No worries. This journey is long and twisted bro... running some tests and this just happened in replay mode.. ignore all the other junk as I am still wearing my research hat on and the solution is not perfect. it does give out fake signals just by the nature of the ZZs. When I took this trade, LL was not formed and Cyan median line was blanked out... magic when it works well lol {image}

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Quoting robots4me

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You fellows should check-out @mrdfx's thread entitled "SDTR Strategy Part II" (https://www.forexfactory.com/showthread.php?t=864690). He employs the ZigZag in his EA in a very simple, yet clever way. In this case the ZigZag is used as a confirming signal -- though requires "looking-back" N bars. For example, let's suppose your favorite non-painting indicator generates a signal at Bar[0]. Your algorithm then looks-back N bars to see if there was a ZigZag mark within the past N bars. Turns out it's a pretty strong confirmation. Since your...

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Quoting anhthu049

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{quote} I am experiencing this zigzags strategy and combining many tools THV, TDI, Turbo .. However, It is more losses than winning, because I have not formed a clear strategy, a clear rule, a framework transaction time. We hope to share the Zizgzigs strategy in this topic. Unfortunately, I hit on the H4 frame but did not track frame H1. should be at a loss. I beat Buy instead of Sell. I have no experience should be at a loss, despite hitting on small accounts. {image} {file} {file} {file}

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Quoting VEEFX

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{quote} One thing I know for sure... ZZ will trick you like a b*tch if there are no concrete rules followed. Its a trickster and a illusionist. It needs to be quantified imo. I thought I had discovered something and still do but it is getting a bit challenging to nail this on a consistent basis....getting there though. I also think this is the key to a strategy that would work in both trending and ranging markets i.e. always-on algo.

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Quoting anhthu049

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{quote} You can share more with me about your rules of effectiveness and what you need to follow {image} {image}

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Quoting NeilWagner

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Frankly, I am not comfortable with this default tool; even I see fibo is much better option than the zigzag.

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Quoting anhthu049

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{quote} I have added automatic Fibo tool to the strategy. Hopefully with compliance with the above rules I can effectively market transactions. We wish everyone to contribute and share. {image}

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Quoting NeilWagner

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{quote} Wow; nice to see fibo on your trading chart; now it’s looking meaningful.

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Quoting anhthu049

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{quote} I have not experienced Fibo in trading. Only grasp the principle: When the market rises, the market tends to return 3 important points 38.2; 50; 61.8 before rising again and vice versa if the market falls. How should I use the above Fibo transaction? In this trading, I am waiting for the 02 MA signal to cross each other from below, signaling the upward trend. Should I place orders at 50 or 38.2 in the sense of Fibo? I hope you share more information and notes when using Fibo, how to effectively place orders on Fibo. Best regards! {image}...

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Quoting NeilWagner

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{quote} Well; I see if we can catch-up the good support/resistant levels as low and high levels of fibo; then this will be more meaningful.

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Quoting anhthu049

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{quote} In the above figure, when the market goes up to meet Zigzag, the market tends to return to the level 3 of the main level of 38.2; 50; 61.8. In this case, I placed two Fibo orders of 50 and 61.8. The price went down to 61.8 and then rebounded. Thus, we must allocate capital to limit risks or we should not put Stop Loss in this case. Do I think so? {image}

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Quoting NeilWagner

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{quote} Personally, I don’t like the ZigZag trading tool; since it changes the decision based on the market chart; that’s why; my main focus on market chart.

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Quoting anhthu049

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{quote} Currently, I use zigzag to determine Fibo line. Am I doing that right? Because to use Fibo effectively, determine the previous high and lowest points. There are still many transactions I draw Fibo incorrectly, which makes it very risky to enter orders. I hope you share more experience in making FIbo look accurate and effective. Through your sharing, I have personally grasped the market trend to be able to determine a reasonable entry time. Sincere thanks! {image} {image}

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Quoting NeilWagner

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{quote} Well; I use fibo as mostly the support/resistant level; that’s my main purpose! In addition I would like to use fibo in intraday time frames.

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Quoting anhthu049

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{quote} I failed successively in this transaction. Failure at Fibo 50 level when eating 200 pips but I am greedy not taking profit, finally the price returns to fibo level 50; The price turned to Fibo 61.8 for a long time, I think this is the last resistance, I put more trading and wait for the price to decrease according to Fibo trend. However, Price suddenly increased sharply, rising continuously from below 61.8 (about 55). In order to preserve capital, I accept losses and exit transactions. When the price increased to Fibo 76.4 (about 80 as shown)....

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