Zig Zag Indicator on Pocket Option

The Zig Zag Indicator is a technical analysis tool used by traders to filter out market noises. This indicator is one of the most underrated tools however you can surely gain high-quality results using this tool. In this blog, I will cover everything about the Zig Zag indicator and how you can make the most out of this Pocket Option tool.

What is Zig Zag Indicator

Zig Zag is a trading tool used by traders to find out the reversal point of a security price. This indicator was developed by Ralph Nelson Elliott who is also the creator of Elliott Wave Theory. The main aim of this indicator is to capture the significant price changes in the security using a series of straight lines.

 

How to find and set the Zig Zag Indicator on the Pocket Option trading platform

 

In order to find and set the Zig Zag Indicator on the Pocket Option trading platform follow the steps given below

Step 1: Log in to your Pocket Option account. In case you don’t have one click here.

Step 2: Navigate to your trading dashboard and set your default chart to candlestick.

Step 3: Click on the indicator button at the top of the page.

Step 4: Search for the Zig Zag Indicator in the list and click on the name.

How to use the Zig Zag Indicator on the Pocket Option?

 

 

The Zig Zag indicator is one of the most effective trading tools used by traders to analyse historical price data. This indicator is very helpful and can help you spot significant price movements however it is never recommended to use this indicator alone in the trading chart you should always combine the Zig Zag Indicator with other trend indicators like Parabolic SAR, Support and Resistance & more.

 

=> Zig Zag indicator plus Support and Resistance

 

 

Support and Resistance is the most ideal combination of Zig Zag Indicator. Here, I assume that you at least know How to draw Support and Resistance levels In case you don’t know click here.

When the Zig Zag Indicator line touches the resistance level it signals an upcoming bearish trend and you can use the opportunity to place a sell trade similarly when the zigzag line touches the support level it signals an upcoming bullish trend and you can use this opportunity to place a buy trade.

 

=> Zig Zag Indicator plus Parabolic SAR

 

Parabolic SAR is another one of the most popular combinators of the Zig Zag Indicator. When both the Parabolic SAR dots and Zig Zag indicator are below the price it signals a bullish trend and vice versa, When both the Parabolic SAR dots and Zig Zag indicator line are above the price it signals a bearish trend.

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