3 Level ZZ Semafor Indicator
MT4Also Available for MT5
Forex BUY SELL signals from the best MT4. 3 level ZZ Semafor indicator. Zigzag trend indicator.
The 3 Level ZZ Semafor Indicator MT4 is a zigzag indicator that shows the values of three zigzags on the chart.
The periods for each of the three zigzags vary. These are small, medium, and large dots. Instead of putting zigzag lines on the chart, this indicator draws dots at the zigzag places.
The three levels of the indicator differ by the maximum and lowest values of three separate periods: short-term rapid, medium-term slow, and long-term slow. The dots vary in size and color, and they are numbered 1 to 3.
The colors of the circles symbolize how you will trade and where the markets will move. The orange circle represents number 1, purple marks number 2, and the yellow circle illustrates number 3.
You can also adjust the settings of the dots depending on the shorter or longer-term strategy.
This indicator generates BUY and SELL signals at dot 3. The other two dots mark short-term market momentum. While looking for trading signals, forex traders should enter at dot 3.
3 Level ZZ Semafor Indicator BUY/SELL signals
The above GBP/USD daily chart shows the BUY and SELL signals for the indicator.
As mentioned earlier, the most important point to remember is the appearance of the third dot. The third dot indicates Buy and SELL signals for the indicator.
The indicator paints a dot 3 below the candlestick when the underlying trend is up. So it’s a buy signal.
On the other hand, you can open a sell position if the underlying trend is down and the indicator draws dot 3 on the top of the candlestick.
How the 3 Level ZZ Semafor Indicator is useful?
The indicator presents BUY and SELL signals through zigzag dots. The indicator doesn’t plot lines, which can clutter the chart. Instead, it paints dots on the chart.
Is the 3 Level ZZ Semafor Indicator free to download?
Yes, this indicator is free to download.
Conclusion
The 3 Level ZZ Semafor Indicator is a zigzag indicator that tells the direction of the trend. The number 3 dot marks BUY and SELL signals. The indicator is free to download, so anyone can apply it to their forex strategies.
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