What is the Zig Zag Indicator?
Zig Zag is a basic tool that you can easily use to identify past price movements. It is to be noted that this indicator won’t help you to identify the current price. But if you combine it with trend indicators like RSI or Stochastic it can give you very good results. In this article, I will combine Zig Zag indicator with Williams %R and this strategy gave me some great results.
How to set Zig Zag indicator and William %R on Pocket Option?
The first thing you need to do is log in to your Pocket Option account. make sure to set your default chart to the candlestick.
Next, click on the indicator button and select Zig Zag from the menu.
Thirdly, click the button again and select Williams %R from the menu.
How to trade with Williams %R and Zig Zag indicator on Pocket Option
Trading with this indicator is quite easy. You just need to combine the golden rules of two indicators.
As you can see above the Zig Zag line is touching the support level plus the Williams %R line is near the -80 zone so, here we can place a buy trade.
Similarly, Given above the Zig Zag line is touching the resistance level plus the Williams %R line is above the -30. It is a signal of a bearish trend and we can place a sell trade here.
So, I have done my part. I have just explained to you how to trade with the Zig Zag indicator properly. I hope you have found this article helpful. I will highly suggest you to try this trading strategy on the Pocket Option demo account and once you are confident enough move to the Pocket Option real account. Till then I wish you a very best of luck.