This is the cTrader ZigZag Alerts, it plots and alerts you about swing types (Higher High, Higher Low, Lower Low, etc.) and it also calculates and alerts about Fibonacci retracements and expansions comparing one swing with another. With its unique standardized approach, the ZigZag line remains consistent across all symbols, timeframes, and price ranges, ensuring accuracy and reliability in every market scenario.
- Customizable Sensitivity: Tailor the sensitivity level to your preference for detecting swings in price movements. Find the perfect fit for any market condition and trading strategy.
- Abbreviation Option: Choose between abbreviated or full labels, presenting a clear and concise visualization of ZigZag patterns right on your chart.
- Font Size Customization: Personalize the chart's appearance by adjusting the font size of the plotted text to match your preferred style.
- Color Customization: Define distinct bearish and bullish colors, making it easier to distinguish trends and enhance overall chart readability.
- Swing Labels & Prices: Opt to display swing labels and corresponding prices, providing valuable insights into market dynamics at crucial turning points.
- Fibonacci: Display the current Fibonacci retracement and expansion levels for each swing, empowering you with better entry and exit points.
- Alert Management: Take control of alerts with the flexibility to pause all alerts at once. Perfect for uninterrupted focus or indicator configuration.
- Personalized Comments: Add comments to the indicator, and have them appear in alerts, enabling easy identification of specific setups or strategies.
- Comprehensive Alert Options: Receive sound alerts with a choice of five different sounds, pop-up alerts, Telegram notifications, and email alerts - all tailored to your preferences.
- Swing-Specific Alerts: Customize your alert preferences, enabling you to receive alerts for any type of swing (Higher High, Higher Low, Lower Low, Lower High, Exact Double Top and Exact Double Bottom). Moreover, you can pause alerts for a specific duration when needed.
- Fibonacci Alerts: Stay ahead of market moves with alerts on Fibonacci retracement levels and expansions for enhanced trading decisions.
- Standardize ZigZag Line: While others zigzag indicators are inconsistent and plot lines with different swings density when you change the timeframe, cTrader ZigZag Alerts remains consistent across all symbols, timeframes, and price ranges, ensuring accuracy and reliability in every market scenario.
How the standardization of the zigzag line works:
Look at the images below. The first one is EURUSD 1 Minute and the second is EURUSD Monthly, both with sensitivity 6. See that the number of swings compared to the number of candles is consistent across both of them:
How the Fibonacci Retracement calculation works:
When you choose to display the Fibonacci Retracements, the indicator will calculate the retracement of the current swing compared to the last completed swing.
How the Fibonacci Expansion calculation works:
When you choose to display the Fibonacci Expansions, the indicator will calculate the expansion of the current swing compared to the last swing that went in the same direction.
In the next image, you can see all the labels you can enable in this indicator (Swings, Price, Fibonacci Retracement and Fibonacci Expansion):
Here you can learn how to configure the Telegram and Email alerts:
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A cTrader Indicator (algo file)