Track 'n Trade Stocks High Finance
Zig Zag Overlay
In this video, we want to cover how to access one of tradings most advanced Overlay Indicators, known as the Automated Elliott Wave Tool or Zig Zag Indicator.
We here at Gecko Software have a deep love of all things Elliott Wave, and Fibonacci. This Indicator has been highly modified by our team of programmers to combine the best of both worlds. To produce a tool second to none when it comes to analyzing a market from a Fibonacci and Elliott Wave standpoint.
To turn on the Zig Zag Indicator, we simply right click on the chart, as it is an Overlay Indicator. Slide down to Chart Overlays, slide down to Zig Zag, and click. This turns on the Automated Elliott Wave Fibonacci Projection Zig Zag Indicator.
If we come over here to the right hand side on the bottom side you'll see that there's a tile here titled ZZ; if we click that- that will bring up the Settings for the Zig Zag Indicator. Of course, you can also access those settings by right clicking on the chart, sliding down to Chart Overlays Preferences, and you'll see those Preferences listed here. If you click on Zig Zag, that will also bring you to this Preferences Tab. The use of this tool is beyond the scope of this video. Other than to say, that we have other videos that we can use to help you identify how to use this tool for a greater degree of success.
The tool itself has been designed to help us identify waves within the market, identified as Elliott Wave and Zig Zag or projections and retracements of the Fibonacci levels. You can see them calculated here, through areas of support and resistance pullbacks and projections.
This is the Zig Zag, or Automated Elliott Wave Tool and the way to turn it back off, simply right click on the chart, come down to Chart Overlays, and slide down, click once again, and that removes it from the chart.