Katong Zigzag
This indicator is a modification of the original zigzag. I usually use the indicator on the GBPUSD with timeframe H4.
This indicator works best in trending markets.
The indicator shows:
- When combined open positions (two positions in one direction)
- Confirmation of the trend (always use the take-profit and stop-loss)
- Weekly breakdown Monthly breakdown
The red arrow indicates the trend confirmation. It works best in conjunction with other indicators.
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