Fibo ZigZag Indicator
The Fibo ZigZag Indicator is a technical analysis tool that combines the concepts of the ZigZag pattern and Fibonacci retracement levels to help traders identify potential price reversals and trends in financial markets. The ZigZag portion visually represents price movements by filtering out minor fluctuations, focusing instead on significant price changes, while the Fibonacci levels provide potential support and resistance areas based on the key ratios derived from the Fibonacci sequence. This indicator can be particularly useful for identifying entry and exit points in trading strategies, as well as for confirming trend strength.