The pivot high and pivot low dots can also be used as a short-term momentum reversal signal and can be used as an entry trigger in confluence with other technical indications. Pivot high dots and pivot low dots that are consistently rising indicate an uptrend market, while pivot high dots and pivot low dots that are consistently falling indicate a downtrend market. This indicator can be used to determine trend direction based on price action. “Zigzag Fast” refers to the depth of the pivot highs or pivot lows used for the faster Zigzag indicator, “Zigzag Slow” is for the slow moving Zigzag indicator. This function makes the indicator plot dots only at the close of a bar, making it a non-repainting indicator. “Calculate On Bar Close” causes the indicator to run its algorithm only at the close of a bar. The Double Zigzag – No Repaint indicator has three settings which can be tweaked. How to use the Double Zigzag – No Repaint Indicator for MT4 However, the slower Zigzag indicator plots dark orange dots regardless of whether it is detecting a pivot high or pivot low. This duplication of Zigzag indications causes it to be more sensitive in detecting pivot highs and pivot lows compared to most Zigzag indicators.īased on the faster Zigzag indicator, it plots dark orange dots to indicate pivot lows, and blue dots to indicate pivot highs. One is a faster moving Zigzag indicator, while the other is slower.
The Double Zigzag – No Repaint indicator uses two underlying Zigzag indicators. How the Double Zigzag – No Repaint Indicator Works? It is also characteristically more sensitive in identifying pivot highs and pivot lows causing it to paint more dots compared to the pivot highs and pivot lows available on traditional Zigzag indicators. It has been modified to plot dots instead of zigzag lines to indicate pivot highs and pivot lows. The Double Zigzag – No Repaint indicator is a custom technical indicator which is based on the Zigzag indicator.
What is the Double Zigzag – No Repaint Indicator? The Double Zigzag – No Repaint indicator is a tool that can help traders objectively identify such pivot highs and pivot lows for the purpose of identifying price action characteristics. This is based on a rising or falling pivot high or pivot low pattern.Īlthough price action is a very reliable technique for trading, not all traders are confident enough to objectively identify such pivot highs and pivot lows.
Price action is often one of the most reliable indication of trend direction. Introduction to the Double Zigzag – No Repaint Indicator
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