Road Map indicator: an alternative to the classic ZigZag
Road Map indicator is a variant of the popular ZigZag trend indicator, built, in contrast to the classical version, on the principles of Stanislav Chuvashov's wave theory.
The Road Map indicator plots the following markup on the price chart:
- pulse waves (thick oblique lines);
- Correction waves (thin oblique waves);
- series of waves upwards (blue);
- series of waves downward (purple);
- wavelengths (numbers near the ZigZag vertices);
- breakdown levels of a series of waves (short green and red lines);
- targets for taking profit (Fibonacci grid from the start line of the wave series).
According to ForTrader.org experts, Road Map indicator - is an excellent alternative to the ZigZag indicator, which can be used not only in trend trading strategies, but also become a powerful tool for analyzing the currency market.
Other modifications of the ZigZag indicator
