Zigzag Larsen Arrows is the forex trading indicator. This indicator can be used to trade for short term purposes. ZigZag Larsen Arrows should be combined with other technical indicators to make good trading decisions. The ZigZag Larsen Arrows indicator is a very simple forex trading indicator. This indicator basically figures out the fractals in the market and generates buy and selling signal on that basis. You can use this indicator in a trending market to increase the probabilities of winning a trade. When the market is trending upward, wait for the correction, wait for the end of the correction, and then you should buy when a green arrow appears in the market.
When you install Zigzag Larsen Arrows indicator in your metatrader, your chart should look like this:
- Zigzag Larsen Arrows
ZigZag Larsen Arrows consists of green and red arrows. Green arrows indicate buying signal and the red arrows indicate selling signals.
Buying Conditions Using ZigZag Larsen Arrows.
- Market should be up trending.
- Market should bounce from the recent swing low.
- A green arrow pointing upward should appear below the market.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take you profit when a red arrow appears above the market.
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Selling Conditions Using Zigzag Larsen Arrows.
- Market should be down trending.
- Market should pullback from the recent swing high.
- A red arrow pointing downward should appear above the market.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take you profit when a green arrow appears below the market.
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