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I realsie that there are limitations on the use of zig, but if you are
looking for a change of direction, it can be used successfully. I actually
do not understand how something can look into the future, and my use of
peaks/troughs has shown me that it sets the last change in direction at that
time and this does not move. Only the last, most recent leg remains flexible
as it follows the current price, until that preset change is made. This then
sets the highest/lowest when this occurred, and continues with a new leg.
I have used it successfully in my support/resistance levels using
peaks/troughs of the RSI indicator.
Cheers,
Graham
http://groups.msn.com/ASXShareTrading
http://groups.msn.com/FMSAustralia
-----Original Message-----
From: Dave Merrill [mailto:dmerrill@xxxxxxx]
Sent: Monday, 25 August 2003 8:54 PM
To: amibroker@xxxxxxxxxxxxxxx
Subject: RE: [amibroker] simplest way to detect a reversal of direction in
an indicator
thanks, but I avoid all the peak/trough functions, since they use Zig, which
looks into the future. better put, the value for today may change later,
depending on data after today. not legit for actual trading use, I think.
dave
> Dave
> Have you tried using the Peak and Trough functions, they look for a
> percent change in the opposite direction
>
> Cheers,
> Graham
>
> what's the simplest way to detect a change of direction in some
> indicator by more than a certain amount? it's easy to see on a chart,
> you just look for peaks, and find the places where the indicator has
> moved the required amount
> from there.
>
> I have a working version that requires crossing an absolute level
> first, before the change in direction will be honored. that's doable
> because you can use HighestSince(AbsoluteLevelCrossed), but I can't
> see how to build a similar thing without that absolute level
> crossover. what you really mean is
> HighestSince(CrossoverInTheOppositeDirection), but that makes the
> level your looking for dependant on the crossovers that came before
> it.
>
> you could step through the indicator array one bar at a time to do
> this, but it seems like there's got to be a better way.
>
> any ideas? is my question clear?
>
> thanks,
>
> Dave Merrill
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