3 Level ZZ Semafor Indicator
Forex BUY SELL signals from the best MT5. Three-level indicator ZZ Semafor. Alternative show of the Zigzag trend indicator.
The 3 Level ZZ Semafor MT5 indicator is a zigzag indicator that shows the values of three zigzags on a chart.
The periods for each of the three zigzags are different. These are small, medium and large dots. Instead of plotting zigzag lines on the chart, this indicator draws dots at zigzag locations.
The three levels of the indicator are distinguished by the maximum and minimum values of three separate periods: short-term fast, medium-term slow and long-term slow. The dots vary in size and color, and they are numbered from 1 to 3.
The colors of the circles symbolize how you will trade and where the markets will move. The orange circle represents the number 1, the purple circle represents the number 2, and the blue circle represents the number 3.
You can also adjust the points parameters depending on the short-term or long-term strategy. This indicator generates BUY and SELL signals at point 3. The other two points mark short-term market momentum. When looking for trading signals, forex traders should enter point 3.
3 Level ZZ Semafor Indicator BUY/SELL signals
The CADCHF daily chart above shows the BUY and SELL signals for the indicator.
As mentioned earlier, the most important thing to keep in mind is the appearance of the third dot. The third dot indicates Buy and SELL signals for the indicator.
The indicator draws point 3 below the candle when the main trend is up. So this is a buy signal.
On the other hand, you can open a sell position if the main trend is down and the indicator draws point 3 at the top of the candle.
How useful is the 3-level ZZ Semafor indicator?
The indicator gives BUY and SELL signals in the form of zigzag dots. The indicator does not draw lines that can clutter up the chart. Instead, it draws dots on the graph.
Can I download the 3-level ZZ Semafor indicator for free?
Yes, this indicator is free to download.
Conclusion
The 3 Level ZZ Semafor indicator is a zigzag indicator that indicates the direction of a trend. Point number 3 marks the BUY and SELL signals. The indicator is free to download, so anyone can use it in their forex strategies.
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