Technical indicators are divided into main and auxiliary. Auxiliary indicators are information
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Zig Zag Swing Detector is a talking indicator that allows you to track new highs and lows using zigzag models and thus allows you to respond to new extremes. For example, for an uptrend, each time a new high is revealed, the strength of the trend increases. The trend ends at a low below the previous one.
The indicator reports new highs/lows with alerts, speech, and notifications!
You can also set up conditions for automatically opening trades at new extremes. Speech synthesis allows you to pronounce the trend direction, pair, timeframe and signal strength in 2 languages-English and Polish. It is also planned to add more languages in the future – Russian and German.
When building a zigzag, the indicator considers the bars significant and insignificant. Significant bars are those where new highs/lows are set, insignificant bars are located between them.
If both a new high and a new low are set, they are both plotted on the same bar in order of occurrence.
Watch the video to understand the mechanics of the indicator, or try to test it on the history.
The indicator is available for both MetaTrader 4 and MetaTrader 5.
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