The Zig-Zag Indicator is in some ways part moving average, and part oscillator. The reason for this is that it simply tries to smooth out noise in the marketplace and allow a trader to see clear trends. It can also be used to help identify certain patterns as well, such as the head and shoulders technical pattern. Read more on http://www.fxstrategy.com/video/forex-trading-indicators/zig-zag-indicator-70.html
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