Zig Zag Indicator
The Zig Zag indicator is a technical analysis tool used to filter out minor price movements and highlight significant trends. It is designed to identify changes in the direction of price movement, eliminating small fluctuations to focus on major market trends. The indicator does this by connecting significant price points, usually based on a specified percentage move. For instance, a Zig Zag set at 5% will only connect points where the price changes by 5% or more. Traders use the Zig Zag indicator to identify wave patterns, support and resistance levels, and possible trend reversals. It is particularly useful for identifying Elliott Wave patterns and can be applied to various time frames, making it versatile for different trading strategies.
Order Block Indicator
The Order Block Indicator is a tool used to identify areas of accumulation or distribution by large institutional traders. Order blocks are specific price ranges where significant trading activity has occurred, leading to the creation of a large volume of orders. These blocks often act as strong support or resistance levels in the market. The indicator helps traders pinpoint these key areas where large market participants are likely to influence price movement. By identifying order blocks, traders can make more informed decisions about potential entry and exit points, anticipating where significant price movements might occur. The Order Block Indicator is especially valuable in identifying high-probability trading zones, aiding traders in optimizing their strategies.
