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ZigZag WS Channel R v2 Indicator
The ZigZag WS Chanel R v2 is one of the best trend indicators for the MetaTrader platform. This indicator includes two basic technical analysis tools for identifying the market trend conditions.
First, it applies the zig-zag line to show the actual range of the price trend. Second, it connects the swinging highs and lows of the market to show the actual direction of the price movements.
ZigZag WS Chanel is an ideal MT4 indicator for forex trend traders. Besides manual analysis, you can add it to your Expert Advisor (EA) robots for receiving automated trend alert.
How ZigZag WS Chanel R v2 Works?
The ZigZag WS Chanel R v2 highlights the swinging points of the price. Also, it connects the swing high and swing lows of the price that work as trendline support and resistance. With multiple trendlines, this indicator works as a trend-following price channel as well.
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