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[amibroker] Re: Your "Zig Zag Explorer" formula



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Hi,

I tried pasting this into a new (empty) indicator in the indicator 
builder but got an error message. Does it work for you?

//Martin

--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx> 
wrote:
> It would be interesting to see the historical TDlines.
> Replace LastValue by SelectedValue, arrange how many bars ahead and 
> here it is:
> Plot(C,"",colorBlack,styleBar);
> pivothigh = Ref(H,-1)<H AND H>Ref(H,1);
> pivotlow = Ref(L,-1)>L AND L<Ref(L,1);
> x1=SelectedValue(ValueWhen(pivotlow,Cum(1)-1,1));
> y1=SelectedValue(ValueWhen(pivotlow,L,1));
> x0=SelectedValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> y0=SelectedValue(ValueWhen(pivotlow AND L<y1,L,1));
> L1=LastValue(BarIndex());
> CondL=LastValue(y1==Ref(Lowest(L),-(L1-x1)));
> x3=SelectedValue(ValueWhen(pivothigh,Cum(1)-1,1));
> y3=SelectedValue(ValueWhen(pivothigh,H,1));
> x2=SelectedValue(ValueWhen(pivothigh AND H>y3,Cum(1)-1,1));
> y2=SelectedValue(ValueWhen(pivothigh AND H>y3,H,1));
> CondH=LastValue(y3==Ref(Highest(H),-(L1-x3)));
> supplyline=LineArray(x2,y2,x3,y3,1);
> ahead=20;
> Plot(IIf(Cum(1)<x3+ahead,supplyline,-1e10),"",IIf(CondH!
> =1,colorRed,0),styleLine|styleThick|
> styleNoRescale|styleNoLabel);
> demandLine=LineArray(x0,y0,x1,y1,1);
> Plot(IIf(Cum(1)<x1+ahead,demandLine,-1e10),"",IIf(CondL!
> =1,colorBlue,0),styleLine|
> styleThick|styleNoRescale|styleNoLabel);
> PlotShapes((Cum(1)-1==x0 OR Cum(1)-1==x1)
> *shapeSmallCircle,colorBlue,0,L);
> PlotShapes((Cross(Cum(C<demandLine AND Cum(1)-1>x1),0))
> *shapeDownArrow,colorRed,0,H);
> PlotShapes((Cum(1)-1==x2 OR Cum(1)-1==x3)
> *shapeSmallCircle,colorRed,0,H,12);
> PlotShapes((Cross(Cum(C>supplyline AND Cum(1)-1>x3),0))
> *shapeUpArrow,colorGreen,0,L);
> GraphXSpace=4;
> 
> Hit some date of the past to see the TDlines fomation, it is quite 
> educative.
> Dimitris Tsokakis
> --- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" 
<TSOKAKIS@xxxx> 
> wrote:
> > We could ask x0!=0 and x3!=0, but it is possible for the very 
first 
> > bar of your data to be the Lowest [Highest].
> > So,
> > The 2nd trendline point should not be the Lowest L[respectively 
the 
> > Highest H] up to this bar.
> > The pivot bar occurred L1-x1 bars ago [respectively L1-x3]
> > L1=LastValue(BarIndex());
> > CondL=LastValue(y1==Ref(Lowest(L),-(L1-x1)));
> > CondH=LastValue(y3==Ref(Highest(H),-(L1-x3)));
> > The above conditions should be false in order to have a "regular" 
> > line.
> > One idea is to paint the lines with the ground color.
> > 
> >  Plot(C,"",colorBlack,styleBar);
> > pivothigh = Ref(H,-1)<H AND H>Ref(H,1);
> > pivotlow = Ref(L,-1)>L AND L<Ref(L,1);
> > 
> > x1=LastValue(ValueWhen(pivotlow,Cum(1)-1,1));
> > y1=LastValue(ValueWhen(pivotlow,L,1));
> > x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> > y0=LastValue(ValueWhen(pivotlow AND L<y1,L,1));
> > L1=LastValue(BarIndex());
> > CondL=LastValue(y1==Ref(Lowest(L),-(L1-x1)));
> > 
> > x3=LastValue(ValueWhen(pivothigh,Cum(1)-1,1));
> > y3=LastValue(ValueWhen(pivothigh,H,1));
> > x2=LastValue(ValueWhen(pivothigh AND H>y3,Cum(1)-1,1));
> > y2=LastValue(ValueWhen(pivothigh AND H>y3,H,1));
> > 
> > CondH=LastValue(y3==Ref(Highest(H),-(L1-x3)));
> > 
> > supplyline=LineArray(x2,y2,x3,y3,1);
> > Plot(supplyline,"",IIf(CondH!=1,colorRed,0),styleLine|styleThick|
> > styleNoRescale|styleNoLabel);
> > demandLine=LineArray(x0,y0,x1,y1,1);
> > Plot(demandLine,"",IIf(CondL!=1,colorBlue,0),styleLine|
> > styleThick|styleNoRescale|styleNoLabel);
> > 
> > PlotShapes((Cum(1)-1==x0 OR Cum(1)-1==x1)
> > *shapeSmallCircle,colorBlue,0,L);
> > PlotShapes((Cross(Cum(C<demandLine AND Cum(1)-1>x1),0))
> > *shapeDownArrow,colorRed,0,H);
> > PlotShapes((Cum(1)-1==x2 OR Cum(1)-1==x3)
> > *shapeSmallCircle,colorRed,0,H,12);
> > PlotShapes((Cross(Cum(C>supplyline AND Cum(1)-1>x3),0))
> > *shapeUpArrow,colorGreen,0,L);
> > 
> > Title= Name()+" "+Date()+EncodeColor(colorBlack) +" Open-
"+WriteVal
> > (Open)+" Hi-"+WriteVal(High)+" Lo-"+WriteVal(Low)+" Close-
"+WriteVal
> > (Close) +EncodeColor(colorBlue)+WriteVal((y1-y0)/(x1-x0)+LastValue
> > (DEMAndline))+EncodeColor(colorRed)+WriteVal((y3-y2)/(x3-x2)
> +LastValue
> > (supplyline));
> > GraphXSpace=4;
> > 
> > You may arrange also not to plot the shape when CondL, CondH are 
> true 
> > [they are at the very first bar]
> > 
> > Dimitris Tsokakis
> > 
> > --- In amibroker@xxxxxxxxxxxxxxx, "marmal417" <marmal@xxxx> wrote:
> > > Hello Dimitris,
> > > 
> > > I know it's like that. My question is if the code can be 
modified 
> > to 
> > > draw no line if there are no valid pivot points to draw the 
line 
> > from?
> > > 
> > > //Martin
> > > --- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" 
> > <TSOKAKIS@xxxx> 
> > > wrote:
> > > > Nice code.
> > > > You ask although 
> > > > x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> > > > and, respectively
> > > > x2=LastValue(ValueWhen(pivothigh AND H>y3,Cum(1)-1,1));
> > > > In this way, some first points may go back more than 2 years.
> > > > In the specific case when the recent pivothigh is the highest 
> in 
> > > the 
> > > > available stock history the trendline will not be defined. 
The 
> > same 
> > > > when the recent pivotlow is the lowest [many N100 stocks 
would 
> be 
> > > > without support line back in Oct2002...].
> > > > Besides that, if the recent pivothigh is the highest, the 
> > > resistance 
> > > > line has a strange beginning.Try for example to import is 
some 
> > > > database APOL from Feb2001 till now to see what I mean.
> > > > Dimitris Tsokakis
> > > > --- In amibroker@xxxxxxxxxxxxxxx, "marmal417" <marmal@xxxx> 
> wrote:
> > > > > Yes, that's it! Now it automatically draws the most recent 
> > demand 
> > > > > line. I took the liberty to add a supply line by mirroring 
> your 
> > > > code 
> > > > > and making the small changes necessary, but I never 
> understood 
> > > what 
> > > > I 
> > > > > was doing :-) I noticed a weird thing when this indicator 
is 
> > > > applied 
> > > > > to a stock making a new all time high. If the most recent 
> > > pivothigh 
> > > > > is higher than any other pivothigh in the database then a 
> line 
> > is 
> > > > > drawn from the bottom in the middle of the chart through 
the 
> > most 
> > > > > recent pivot high. It looks really strange. Can the code be 
> > > > modified 
> > > > > to draw no supplyline when there are no higher pivots to 
draw 
> > the 
> > > > > line from and draw no demand line when there are no lower 
> > pivots 
> > > to 
> > > > > draw the line from?
> > > > > 
> > > > > The basis for the systems I have seen based on TD Lines is 
> that 
> > > you 
> > > > > buy/cover when the supplyline is exceeded and sell/short 
when 
> > the 
> > > > > demand line is broken. Trendlines let you know in advance 
the 
> > day 
> > > > > before, the value of the trendline for the next trading day 
> by 
> > > > > calculating the slope of the line and adding it to today's 
> > value 
> > > of 
> > > > > the line. Therefore, one can place the orders in the 
evening 
> as 
> > > > stop 
> > > > > orders so if a line is broken during the day a position is 
> > taken. 
> > > > > Anyway, I wrote the values of the lines for the next day in 
> the 
> > > > > title. I realise it's not perfect, because some lines are 
no 
> > > longer 
> > > > > valid lines (for example a supply line that has been 
exceeded 
> > > > etc.). 
> > > > > But more on that later.
> > > > > 
> > > > > There are more improvements to be made, but I think it's 
> > getting 
> > > > > there :-)
> > > > > //Martin
> > > > > 
> > > > > Here is the modified code with both a supply and demand 
line:
> > > > > 
> > > > > Plot(C,"",colorBlack,styleBar);
> > > > > pivothigh = Ref(H,-1)<H AND H>Ref(H,1);
> > > > > pivotlow = Ref(L,-1)>L AND L<Ref(L,1);
> > > > > 
> > > > > x1=LastValue(ValueWhen(pivotlow,Cum(1)-1,1));
> > > > > y1=LastValue(ValueWhen(pivotlow,L,1));
> > > > > x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> > > > > y0=LastValue(ValueWhen(pivotlow AND L<y1,L,1));
> > > > > x3=LastValue(ValueWhen(pivothigh,Cum(1)-1,1));
> > > > > y3=LastValue(ValueWhen(pivothigh,H,1));
> > > > > x2=LastValue(ValueWhen(pivothigh AND H>y3,Cum(1)-1,1));
> > > > > y2=LastValue(ValueWhen(pivothigh AND H>y3,H,1));
> > > > > 
> > > > > supplyline=LineArray(x2,y2,x3,y3,1);
> > > > > Plot(supplyline,"",colorRed,styleLine|styleThick|
> > > > > styleNoRescale|styleNoLabel);
> > > > > demandLine=LineArray(x0,y0,x1,y1,1);
> > > > > Plot(demandLine,"",colorBlue,styleLine|
> > > > > styleThick|styleNoRescale|styleNoLabel);
> > > > > 
> > > > > PlotShapes((Cum(1)-1==x0 OR Cum(1)-1==x1)
> > > > > *shapeSmallCircle,colorBlue,0,L);
> > > > > PlotShapes((Cross(Cum(C<demandLine AND Cum(1)-1>x1),0))
> > > > > *shapeDownArrow,colorRed,0,H);
> > > > > PlotShapes((Cum(1)-1==x2 OR Cum(1)-1==x3)
> > > > > *shapeSmallCircle,colorRed,0,H,12);
> > > > > PlotShapes((Cross(Cum(C>supplyline AND Cum(1)-1>x3),0))
> > > > > *shapeUpArrow,colorGreen,0,L);
> > > > > 
> > > > > Title= Name()+" "+Date()+EncodeColor(colorBlack) +" Open-
> > > "+WriteVal
> > > > > (Open)+" Hi-"+WriteVal(High)+" Lo-"+WriteVal(Low)+" Close-
> > > "+WriteVal
> > > > > (Close) +EncodeColor(colorBlue)+WriteVal((y1-y0)/(x1-x0)
> > +LastValue
> > > > > (DEMAndline))+EncodeColor(colorRed)+WriteVal((y3-y2)/(x3-x2)
> > > > +LastValue
> > > > > (supplyline));
> > > > > GraphXSpace=4;
> > > > > --- In amibroker@xxxxxxxxxxxxxxx, "johsun" 
<johanskatt@xxxx> 
> > > wrote:
> > > > > > OK, I think I get it. Is this what you're looking for?
> > > > > > 
> > > > > > Johan
> > > > > > 
> > > > > > 
> > > > > > Plot(C,"",colorGreen,styleBar);
> > > > > > pivotlow = Ref(L,-1)>L AND L<Ref(L,1);
> > > > > > 
> > > > > > x1=LastValue(ValueWhen(pivotlow,Cum(1)-1,1));
> > > > > > y1=LastValue(ValueWhen(pivotlow,L,1));
> > > > > > x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> > > > > > y0=LastValue(ValueWhen(pivotlow AND L<y1,L,1));
> > > > > > 
> > > > > > Line=LineArray(x0,y0,x1,y1,1);
> > > > > > Plot(Line,"",colorBlue,styleLine|
> > > > > > styleThick|styleNoRescale|styleNoLabel);
> > > > > > PlotShapes((Cum(1)-1==x0 OR Cum(1)-1==x1)
> > > > > > *shapeSmallCircle,colorBlue,0,L);
> > > > > > PlotShapes((Cross(Cum(C<Line AND Cum(1)-1>x1),0))
> > > > > > *shapeDownArrow,colorRed,0,H);
> > > > > > 
> > > > > > 
> > > > > > Title="TD Demand Line";
> > > > > > GraphXSpace=4;
> > > > > > 
> > > > > > 
> > > > > > 
> > > > > > 
> > > > > > --- In amibroker@xxxxxxxxxxxxxxx, "marmal417" 
<marmal@xxxx> 
> > > wrote:
> > > > > > > Thank you very much, Johan. I replaced all the 
> > SelectedValue 
> > > > with 
> > > > > > > Lastvalue to only get the most recent trendline. I 
think 
> > your 
> > > > > > formula 
> > > > > > > does exactly what I described. However, after looking 
at 
> > some 
> > > > > > charts 
> > > > > > > I realised my description was a bit wrong. You see, 
there 
> > > > should 
> > > > > > > always be a demand line (upward sloping line) 
connecting 
> > the 
> > > > most 
> > > > > > > recent pivot with the second most recent pivot that is 
> also 
> > > > lower 
> > > > > > > than the most recent. This code compares the two most 
> > recent 
> > > > > > > pivotpoints and if the second most recent is greater 
than 
> > the 
> > > > > most 
> > > > > > > recent, then no line is drawn. What it really should do 
> is 
> > > > first 
> > > > > > > identify the most recent pivot, and then go back and 
look 
> > for 
> > > > the 
> > > > > > > next pivot that is lower and connect those two with a 
> line, 
> > > > > > wherever 
> > > > > > > that next pivot is. The exception is when a stock makes 
a 
> > new 
> > > > all 
> > > > > > > time low, because then no lower pivot point can exist 
to 
> > draw 
> > > a 
> > > > > > line 
> > > > > > > from.  
> > > > > > > 
> > > > > > > Maybe this requires a lot more programming, but can it 
be 
> > > done?
> > > > > > > 
> > > > > > > So far I think it's a great start!
> > > > > > > //Martin



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