with labels that measure the prior move. A ZigZag with 5 in the parameter box will filter out all movements less than. This means Line 3.646 (164.6) of Line. The advance from early September to early November was.646 times the August decline.
The August decline (Line 2) retraced around.8 of the June-July advance (Line 1). The Zig-Zag indicator is also effective in visually reducing noise and helping the technical trader see larger picture patterns and general market direction. A number above 1 means the line is longer than the prior line. If the stock continued on to 112, this line would extend to 112 (100 to 112). The chart below of the E-mini Nasdaq 100 Futures contract visually illustrates the difference between a price retracement Zig-Zag of 3 commonwealth bank forex calculatrice and a price retracement Zig-Zag of 5: Notice how in the chart above that a Zig-Zag with a retracement percentage of 3 makes more. The chart below of Intel (intc) shows a classic chart head and shoulder pattern easily seen by the Zig-Zag indicator (1 retracement The easily identified head and shoulders pattern gave a potential sell signal when price on the right shoulder broke the upward slanting trendline. The ZigZag has a way of highlighting the important movements and ignoring the noise. To construct the Zig-Zag indicator, there must be a certain percentage or number of points between a swing high and a swing low before a line will be drawn. Chartists can also use the ZigZag with retracements feature to identify Fibonacci retracements and projections. Only price movements greater than 10 would be shown.
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