Using Confirmed ZigZag Swings to Measure Price Moves
Summary
This indicator presents confirmed ZigZag turning points as a visual reference for examining price movement and comparing other indicators on the main chart or in subwindows. For each confirmed swing, it can show the swing period, the high or low price, direction, and distance in pips. Colored vertical markers distinguish highs from lows, while labels add price and direction symbols.
Display options let users adjust the ZigZag appearance, label styling, and which elements are visible. The tool can limit the bars it analyzes for performance and removes its chart objects when uninstalled. Its reliance on confirmed values is intended to avoid presenting unconfirmed turning points, but the document gives no trading rules, backtest, or evidence that the visual measurements predict future prices. It is an analysis aid for chart interpretation, not a standalone signal or strategy.
Key ideas
- The indicator marks confirmed ZigZag highs and lows as visual reference points.
- It reports swing periods, prices, directions, and distances in pips.
- Separate markers and labels can be styled or disabled through settings.
- A bar limit can reduce processing work, and chart objects are removed on uninstall.
- The document presents a visualization tool without evidence of predictive performance.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.