The zigzag indicator is a very diverse indicator. It allows for a huge versatility in both trading and analysis. This indicator can be used to filter out relatively small price movements. The indicator is what is known as a filtering or smoothing indicator. In this indicator primary purpose is to filter out insignificant fluctuations in the price of a security and accurately track whatever the existing trend is. The indicator can also be used to identify support and resistance price levels in a market. This indicator is a technical indicator that measures the swing highs and swing lows of a market. The indicator tool is primarily used to filter out the market noise.