Below you can find a different zigzag indicator version, called Swing ZZ. It can enhance your forex trading strategy, especially on the long period as it generates alert everytime that a swing occurrs.
Swing High is the highest point reached by the price before reversal, more often just called “High”.
Swing Low is the lowest point reached by the price before reversal, often simply called “Low”.
This can be easily identified on a candlestick chart, as in the picture below:
Swing ZigZag Trading Signals
Swing ZZ Indicator repaints, so you have to be carefull and use your discretion. It would be wise to trade ZZ Swing along with another indicator such as a 5-periods EMA (see the example below) in order to filter those signals that could reveal to be wrong.
Swing ZZ Settings
It’s possible to set email and sound alarm so that you can be notified whenever a reversal move happen. Among the other settings, you can also chose the minimum number of bars (default parameter is 2) to count when calculating the swing.3PIPS is rated 5 / 5 on 1380 reviews.