Forex Trading BASIC – Zig Zag Price Action System and Strategy. The”Zig Zag Super Signals Price Action Trading System” is used to help identify price trends.
The Zig Zag indicator eliminates random price fluctuations and attempts to show trend changes. Zig Zag lines only appear when there is a price movement between a swing high and a swing low that is greater than a specified percentage; usually 5%.
By filtering out minor price movements, this “Forex BASIC – Zig Zag Price Action Trading System” makes trends easier to spot.
- Time Frame: H1 or higher
- Currency Pairs: GBPUSD, EURUSD, USDCAD, AUDUSD, and USDJPY
- ZigZag Indicator
- Auper Signals
- Stochastic Oscillator
- Commodity Channel Index
- When there is a zigzag, super signals BUY arrow, and the stochastic oscillator has been upward above the 20 level.
- Commodity Channel Index line above 50 level
- When there is a zigzag, super signals SELL arrow, and the stochastic oscillator has been downward below the 80 level.
- Commodity Channel Index line below -50 level
- Exit position options
- at the opposite arrow
- Predetermined profit target with Risk Reward Ratio 1:2 or 1:3
- Initial stop loss below or above the previous Super Signals arrow