Color-coded swing lines to identify HigherHigh / LowerHigh (Revolutionary!)
We're happy to introduce a truly awesome price-action indicator and it's essential for all traders: ELITE* Zigzag Swing Pro.
There are lots of swing indicators out there but most of them give inaccurate swing points. Understanding that, we developed Zigzag Swing Pro, a revolutionary swing indicator built upon the algorithm of zigzag patterns, aimed to tackle the drawbacks of typical swing indicators.
Traders have long witnessed the following problems in typical swing indicators:
- Swing points are often identified incorrectly, especially in sideways or consolidation periods.
- Swing points will change upon timeframe switch.
Why do these drawbacks exist?
Because typical NinjaTrader swing indicators only take into account the number of bars surrounding a swing point but don’t care about the vertical price change. The result is a lot of meaningless swing points. Also, when you switch your chart to another timeframe, swing points will most likely shift.
Solution? We need to define a swing length based on price change! Therefore, we employ the zigzag logic in our swing indicator development. This radical solution has swing points identified accurately, plus identically across different timeframes.
Imagine: when you switch from a Minute chart to a Tick chart of NQ, you will still see the same swing points, and therefore the same market structure.
One of the best features of this indicator is color-coded swing lines, with which you will instantly know if a swing point is Higher High (stronger) or Lower High (weaker). The Higher High has a more solid blue swing line, while the Lower High has a lighter blue swing line. It's so easy on the eyes, as you will see in the image and video below.