What is the Zig Zag Indicator?
The Zig Zag indicator plots points on the chart whenever prices reverse by a percentage greater than a pre-chosen variable. Straight lines are then drawn, connecting these points. The indicator is used to help identify price trends. Also ZigZag gives you information about Volume, Delta, Candlecount and Time from this moves.
View of indicator on the chart:
To add and configure the indicator, you must open the settings window.
- Relative - calculated in percents
- Absolute - only absolute price value matters
Required Change - set value which have to be reached before reverse movement of price starts.
Show value - display the value of the indicator on price scale.
Show zero values- display zero values.
Scale - if this option is enabled, the scale will automatically be calculated based on the minimum and maximum values of the indicator, in order for the indicator to be placed on the graph.
Color - choose color.
Visual type - visual adjustment of the indicator on the graph:
- Up arrow
- Down arrow
- Axis label
Line style - customize the appearance of the line:
- Dash - dot
- Dash - dot - dot
Width - adjust the thickness of the indicator line.
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