The 3 Level ZZ Semafor Indicator MT4 is a zigzag indicator on the chart that displays the values of three zigzags. The periods of the three zigzags differ. There are three sizes of dots: small, medium, and giant. Instead of zigzag lines, this indicator creates dots at the zigzag points on the chart.
The indicator’s three levels are distinguished by the maximum and minimum values of three periods: short-term rapid, medium-term slow, and long-term slow. The dots are numbered 1 to 3 and vary in size and color.
The circles’ colors represent how you trade and where the markets will move. The orange circle indicates number one, the purple circle represents number two, and the yellow circle represents number three. You can also change the settings of the dots based on your short-term or long-term plan.
Here are some of the features of the indicator:
The appearance of the third dot is the most crucial thing to remember. The third dot represents the indicator’s Buy and SELL signals.
The indicator paints a dot three below the candlestick when the underlying trend is up. As a result, it’s a purchase indication.
If the underlying trend is down and the indicator draws a dot three on the top of the candlestick, you can open a sell position.
The 3 level ZZ indicator for MT4 gives clear trade entry signals. You should incorporate price action and other technical indicators to increase your chances of a profitable trade.
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