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Formula for ZigZag?



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Hi All,
 
Does anyone have the formula for the ZigZag indicator? I would 
like to write one that will accept a variable for the percentage argument. Using 
the same percent on all stocks does not always look so good - I think it might 
be  better if it would automatically change the % depending on the 
stock's characteristics. Not much luck searching the net on this one - 
found plenty of references to Spiros' validity formula though. Thanks very 
much!
 
Steve