Free Forex Tools

100% FREE “3 Level ZZ Semafor” MT4 Forex Indicator

Hi, everyone! I’ve just come across a very useful tool in my collection that I really want to share with you.

The 3 Level ZZ Semafor forex indicator for Metatrader 4 is a sort of zigzag indicator. It looks for high and low prices in the trend and then marks them with 1 (short-term), 2 (medium-term) or 3 (long-term). Number 3 is the most important Semafor level to keep an eye on.

This indicator can be used as a standalone, or you can use it together with a trend following indicator such as an exponential moving average with period set at 75 or 100. Trade in the direction of the underlying trend.

The default ZZ Semafor period settings (5, 13, 34) can be changed from the indicator’s inputs tab.

BUY Signal Entry:

Open buy trade position when the underlying trend is up and the 3 Level ZZ Semafor indicator paints number 3 below the candlestick (support).

SELL Signal Entry:

Open sell trade position when the underlying trend is down and the 3 Level ZZ Semafor indicator paints number 3 above the candlestick (resistance).

Trade Examples:

P.S. Have problems with installation? Email me at olivermurphy@altraforex.com or support@altraforex.com
I would love to help!

Oliver Murphy

Hi! My name is Oliver Murphy. I am the Head of ALTRA Group, the team of the most qualified and experienced forex traders and programmers. Our Mission Statement: "Trading Forex Made Easy and Profitable for Everyone"! Join our team today!

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Back to top button
Close
Close