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The ZigZag Wave Entry Alert (ZWEA) is a sophisticated technical indicator designed by Azad Gorgis, aiming to assist traders in identifying optimal entry points within the volatile forex market. This indicator specifically targets the EUR currency pairs, leveraging ZigZag patterns to predict future price movements. The ZWEA operates by analyzing historical price data to detect significant price changes that deviate beyond a predefined threshold, effectively filtering out minor price fluctuations and highlighting substantial shifts.
It features four primary components signaled by different colors: two for identifying potential upward trends (white and lime) and two for signaling possible downward trends (white and red). Traders can customize the sensitivity of the ZigZag patterns through adjustable parameters, including two distinct periods and deviations, allowing for tailored strategy alignment. Furthermore, the ZWEA incorporates a comprehensive alert system, encompassing visual, auditory, and email notifications, ensuring traders do not miss critical market movements. These alerts are stratified into two levels, offering nuanced insights into the strength and potential of identified patterns. With its ability to operate across various timeframes, from M1 to MN1, the ZWEA offers versatility and precision, making it a valuable tool for traders aiming to capitalize on ZigZag pattern formations.
Adjust Period1 = 250; Period2 = 35; for change the given signal.
