Zigzag Swing Pro is among the very few NinjaTrader 8 swing indicators that land what you’re looking for.
Numerous swing indicators are available, but the majority of them provide incorrect swing points. To address this issue, we created Zigzag Swing Pro, a groundbreaking swing indicator for NinjaTrader 8. This indicator is based on the zigzag pattern algorithm and is intended to overcome the limitations of conventional swing indicators.
Typical swing indicators often have a number of issues, such as incorrectly identifying swing points, particularly in sideways or consolidation periods, and swing points changing when switching timeframes. This is because these indicators only consider the number of bars around a swing point, disregarding the vertical price change. To rectify this, zigzag logic is employed in the development of the zigzag swing indicator, which accurately identifies swing points and maintains consistency across different timeframes. By defining the “Minimum Swing Length” in two units, users only see meaningful swing points, and the indicator recognizes tops and bottoms with more precision.
Additionally, important data such as swing length, bar count, duration, volume, and retracement is displayed at each swing point, and the indicator plots swing levels, divided into Inactive and Active levels, to provide a more intuitive view of support and resistance.
Overall, Zigzag Swing Pro is a revolutionary swing indicator that offers a better understanding of market structure and helps traders gain an advantage over their competitors.
- 01 Feb 2023 – The indicator was released (build new).