Zigzag with additional ARROW signal
- Indicators
- Version: 1.0
- Activations: 5
The zig-zag indicator is standard with a period of 34 with an additional arrow signal. The additional signal is calculated separately from the zig-zag indicator.The work on this indicator is as follows: 1. when forming a segment of the zig-zag indicator and an additional arrow signal appears, you need to open a position in the direction of the arrow; 2. when forming another arm of the zig-zag indicator in the opposite direction of the additional signal (arrow) at the top of the previous arm, it becomes possible to establish the position of a pending order; 3. after the formation is completed from the opposite zig-zag shoulder to the additional signal (arrows), you can add to the previously open position or move the stop loss to this level;4. You cannot open additional positions before the first pullback of the price movement if you are trading in a conservative trading mode; 5. to accurately enter the market, you can wait for the formation of the zig-zag indicator segment and the appearance of an additional signal on the senior timeframe, while placing a stop no closer than 40 points from the open position. 6. After you have added additional positions to the trade, the stops on open positions should be kept at the same price level, if the positions are closed at the stop, then you will make a profit at the average value; 7. stop at no loss, it is recommended to rearrange after the next price pullback is formed (a segment of the indicator will be formed zig-zag towards the additional signal (arrows) ). 8. All open positions are closed if, after forming a zigzag segment, an additional signal is formed in the form of an arrow on the timeframe where you are trading.9. In a highly volatile financial market, it is recommended to use additional filters; 10. When closing positions on a trading timeframe, it is always necessary to analyze the senior timeframe.and if your signal persists on the senior chart, then it is recommended to close all positions except the first open position, while the stop will need to be moved closer to the first open position.
