ZigZag Channel Indicator combines ZigZag moves and Channel lines where you get a very powerful tool with great visual confirmation of the entries.
this ZigZag Channel Indicator for MT4 / MetaTrader 4 will show you normal ZigZag lines together with Channel Lines. Additional to this two indicators you will have some more critical information on the chart like:
- Pips difference from previous ZigZag line
- number of bars from previous ZigZag line
- Average difference of the move to previous ZigZag line
When you combine all of the above you should have most of the critical information when using ZigZag Channel Indicator. This indicator will filter out smaller price movements were you will be able to ignore the noise and see the bigger picture.
Now when you add channel you are able to predict more easily where the PA (Price Movement) is going and if ZigZag is going to bounce soon.
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