I use other swing indicators which may reference the zig zag.The idea is to use the zig zag indicator to identify the pivots for which you can specify the inputs or degree of swing.
As for accuracy, you can have a completely 100% accurate swing indicator using zig zag at the expense of lag because the zig zag indicator will "look back" to determine a pivot. This means you cannot use the zig zag for forecasting the last pivot - meaning that the zig zag will be 100% accurate only till the second last pivot. That is why many traders will use other indicators or techniques to "forecast" the last pivot eg fibonacci projection, chart patterns etc to find confluence to help determine the location of the possible last pivot.
