Zig Zag Indicator

[captjoe 10]

Has anyone tried and been successful using this indicator? I've been playing around with it for a few weeks and it appears to be useful on longer time frames like the daily and weekly. I try to use it to point to swing highs and lows and tweak the setting to curve fit a particular security. Any input would be helpful. Thanks In Advance.:missy:

[UKTraderGirl 10]

How are you using it? I've never come across the ZigZag indicator. When i read it here i looked for it in my charting package- and there it was!

[captjoe 10]

Current I working a basic A, B, C wave move. Looking for a failure of a new high or a new low. You can set the parameters of the Zig zag to trace the price movement. As I attempt to recognize the price movement I use it help track the past moves to confirm a failure. Of course a trend line you can do the same but in longer term charts I’m looking for a past pattern to show itself again it help anticipate an entry into a position. I’ve seen some written material somewhere last week and if I can locate the link I will post it here.

[sevensa 10]

Just be careful with the indicator. It look amazing on static, historical charts, but real time it lags a lot and can only identify the swings after it was formed. Just monitor it real time for a day on intrady charts and you will see what I mean.