Well, I have been using this indicator from the 1st March, and I see for buy trade 40 level works better rather than 30; that’s way I am going to use this tool with 40 level for buy trade.
Unfortunately, I don’t think it’s a good tool; because it’s not providing any direct clue of trading, on the other hand, so many parameters in there, no I don’t see any usefulness.
Did you manually add fibo on your chart? Or it’s the part of this ZIG ZAG tool? By the way, I use Fibo manually on my chart, Fibo is very useful tool for identifying the support & resistant levels.
Well, if I open a buy trade according to the green line than if get a huge sell candle below the green line, what will do? Same question on the sell trade.
Maybe, this indicator is not useful on the rangy market, it would be better if the shows another different color in the rangy market! hop, you’ll consider this point.
Interesting tool, now I am going to practice this indicator on my demo chart. If I get good result then I’ll use it in my real account very soon. Thanks a lot for your tool.
Actually, when I was a new Forex trader then I tried with this system, I see this tool provides so many false signals. By the way, according to me, MA is the best default tool, that’s way I use EMA with fibo & trend line.