Fractal ZigZag No-repaint Indicator, Capture Flawless Trend Reversals

Description

The Fractal ZigZag No-repaint indicator for MetaTrader is a unique trading tool that plots the price’s swing highs and lows using two different ZigZag trend analyzers. These areas (swing highs and lows) represent possible price trend reversal points. This suggests that the indicator can be used to spot setups for trend reversals.

The indication is a more comprehensive version of the standard MetaTrader platform Zigzag indicator. It has red and blue arrows that indicate a signal without redrawing, is well-optimized, and is simple to plot. The fast and slow Zigzag indicators produce a bullish signal represented by the red arrow and a bearish signal represented by the blue arrow.

Trend and countertrend traders can also use this technical indicator to find buy/sell trading opportunities. But in a market that is trending, the signal is usually more dependable. In summary, for increased efficiency, it is advised to employ it in a market that is trending.

Using the Fractal ZigZag No-repaint Indicator to Trade

The indicator’s movement on the EURUSD chart during the M30 timeframe is depicted in the figure above. For the optimal setup or trade entry, it demonstrates how to match the indicator signal with the price action.

First, the picture indicates a bullish general trend for the EURUSD pair. A red arrow was also drawn by the indicator below the price, suggesting that a slight retreat may be finished and that the positive trend may continue. Lastly, a bullish engulfing candlestick pattern—which also functions as a buy entry—accompanies the indicator signal.

A sell entry in a bearish trend can likewise be made using the aforementioned principle. To locate trading chances, you can also utilize the Fractal ZigZag No-repaint indicator in conjunction with other technical indicators like the Stochastic Oscillator, MACD, etc.

Conclusion

One of the greatest trend reversal trading tools for scalpers, day/intraday traders, and swing traders is the Fractal ZigZag No-repaint Indicator for MT5. Lastly, you can download it for free.