How to use zig zag indicator in trading view?

Could you please elaborate on how to effectively utilize the Zig Zag indicator in Trading View? I'm particularly interested in understanding how to set up the indicator, interpret its signals, and integrate it into my trading strategy. Additionally, are there any common pitfalls or misconceptions traders should be aware of when using the Zig Zag indicator? Your insights would be invaluable in helping me enhance my trading performance.