Zig Zag is the least discussed chapter in the field of trading. However, this indicator can be extremely useful and can give you great results. Let’s first check out how you can add the Zig Zag Indicator on Quotex trading platform.
How to add a Zig Zag indicator on Quotex?
In order to add the Zig Zag indicator on the Quotex trading platform firstly, you need to log into your Quotex account. once you have logged in. select your desired financial instrument i.e chart and currency.
Now, click on the indicator button at the bottom of the chart and select the Zig Zag indicator from the same.
Now, adjust the indicator settings as per your preferences and increase the width of the line for better visibility.
About the Zig Zag indicator line
As said above, the Zig Zag indicator is the least discussed indicator. However, that doesn’t mean that this indicator is not useful. This indicator helps traders to find the past price movement but it is impossible for the traders to predict the price movement with the same.
The Zig Zag Indicator is a technical analysis tool used to identify trend reversals and price fluctuations using the past data in the financial markets. This indicator was developed by Ralph Nelson Elliott, who is known for his work on the Elliott Wave Theory
This indicator is made from the composition of the moving average line that ribbons around the price and moves according to the time period. the lower the time period of the indicator the faster it moves and the higher the time frame slower it moves.
How to place a trade with a Zig Zag indicator on Quotex
This indicator is a hidden gem and can give you great results and scores. there are numerous ways of using the Zig Zag indicator on Quotex However, the best way I will recommend you is to combine the indicator with Support and Resistance. In case, you don’t know how to draw Support and Resistance levels click here.
When both the price and the candle touch the support level it indicates an upcoming bullish trend similarly, when the price and the candle touch the resistance level it indicates an upcoming bearish trend.