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Hello Jim,
See the following page for more info on Zig indicator:
http://www.trade10.com/zig_zag.htm
As for the algorithm it is a little bit too complicated to
list here, but the idea is that
we start either with uptrend or downtrend depending
on the direction of price movement between first and
the second bar.
Then we check next bars - if a price continues to move in the
direction of current trend the zig line is build up,
if a price breaks the trend and the price change is greater
than defined as a percentage parameter of a zig indicator
then a new line is drawn from the recent peak/trough to the
current bar.
As you can see the last leg changes as new bars are added
and the duration of this leg in unknown until a new leg is
created (a trend is broken).
For this reason building trading systems on Zig() indicator
is inpractical. Use it only for pattern detection - as I have
shown in automatic trendline formula.
Best regards,
Tomasz Janeczko
===============
AmiBroker - the comprehensive share manager.
http://www.amibroker.com
----- Original Message -----
From: <jhellisjr@xxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Wednesday, August 22, 2001 8:08 PM
Subject: [amibroker] Re: Fw: RS Peaks,II
Tomasz,
Briefly, what is the algorithm behind the Zig indicator?
Thanks,
Jim
--- In amibroker@xxxx, "Tomasz Janeczko" <amibroker@xxxx> wrote:
> Hello Dimitris,
>
> I am going to fix these functions to allow negative values.
>
> Best regards,
> Tomasz Janeczko
> ===============
> AmiBroker - the comprehensive share manager.
> http://www.amibroker.com
>
>
> ----- Original Message -----
> From: "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
> To: <amibroker@xxxx>
> Sent: Tuesday, August 21, 2001 8:43 PM
> Subject: [amibroker] Re: Fw: RS Peaks,II
>
>
> Thank you Tomasz, I īll follow RS1=RS+10;
> Joining two divergences looks promissing.
> I will revert with the code.
> If it is technically possible, it would be better in the future to
> have also negative peak and trough values for all these functions
> (ROC, %R, RS etc) vibrating around zero.
> The use of abs is not useful here.
> Divergence is the same for A and A+10, but other quantities like
> % do not permit such transformation.
> Thanks again for explanation.
> Dimitris Tsokakis
> --- In amibroker@xxxx, "Tomasz Janeczko" <amibroker@xxxx> wrote:
> > Hello Dimitris,
> >
> > Currently Zig, Peak, Trough functions work correctly with positive
> numbers only.
> >
> > Best regards,
> > Tomasz Janeczko
> > ===============
> > AmiBroker - the comprehensive share manager.
> > http://www.amibroker.com
> >
> > ----- Original Message -----
> > From: Dimitris Tsokakis
> > To: amibroker@xxxx
> > Sent: Tuesday, August 21, 2001 4:00 PM
> > Subject: [amibroker] Fw: RS Peaks,II
> >
> >
> > Dear Tomasz,
> > I see that the wrong values appear when RS<0.
> > Does function PEAK accept as Array negative numbers ?
> > (Level at A is the first negative value for RS and it holds this
> > value until next positive RS.)
> > Although something different happens in the middle of the chart.
> > PEAK graph seems to follow negative values, but not always.
> > Confused.
> >
> > Best Regards
> > Dimitris Tsokakis
> > P. S. 1. The value of crosshair is more than obvious here.
> > I should draw an horizontal line to see that level A was not a
> > previous peak. The only problem is the colour. With blue
> > background is not easily visible.
> > Anyway, it is a great help.
> > P. S. 2. If there is no other hint and since -10<RS<10 in the
> > majority of cases, I will transform RS to RS1 with
> > RS1=10+RS, where everything goes fine.
> >
> > Yahoo! Groups Sponsor
> >
> >
> >
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> Service.
>
>
>
>
>
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