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It is possible to use zigzag in a backtest. the important thing is
that the signals can only occur after the price has passed the
reversal level
eg here is a way to use it
p = Peak(C,10);
pb = PeakBars(C,10);
t = Trough(C,10);
tb = TroughBars(C,10);
cp = Cross(p*0.9,LowestSince( pb==0, C ));
ct = Cross(HighestSince( tb==0, C ), t*1.1);
Fall = Flip(Cp,Ct);
Rise = Flip(Ct,Cp);
Buy = Cross(MACD(),Signal()) AND rise;
Sell = Cross(Signal(),MACD());
SetChartOptions( 0, chartShowDates|chartWrapTitle );
GraphXSpace=10;
_N(Title = "{{NAME}} - {{INTERVAL}} {{DATE}} "+_DEFAULT_NAME()+" :
{{OHLCX}} {{VALUES}}" );
BarColor = IIf( rise, colorPaleGreen, IIf( fall, colorOrange,
ParamColor( "Price Colour", colorWhite )));
Plot( C, "", BarColor, ParamStyle( "Price Style", styleBar, maskPrice ) );
Plot( Zig(C,10), "Zig", colorRed, styleLine );
Plot( IIf(pb<tb,Peak(C,10)*0.9,Trough(C,10)*1.1), "Zig",
IIf(pb<tb,colorOrange,colorPaleGreen), styleStaircase );
PlotShapes( shapeSmallUpTriangle*Ct, colorPaleGreen, 0, L, -12 );
PlotShapes( shapeSmallDownTriangle*Cp, colorOrange, 0, H, -12 );
PlotShapes( shapeUpArrow*Buy, colorGreen, 0, L, -24 );
PlotShapes( shapeDownArrow*Sell, colorRed, 0, H, -24 );
--
Cheers
Graham Kav
AFL Writing Service
http://www.aflwriting.com
2008/5/21 Louis Préfontaine <rockprog80@xxxxxxxxx>:
> Hi,
>
> My idea is to use the zigzag feature in the past to find the best stocks
> which match ETF. I'd like to use the zigzag directly in my formula without
> having to re-build a new watch-list often.
>
> Louis
>
> 2008/5/21 Ed Hoopes <reefbreak_sd@xxxxxxxxx>:
>>
>> ZigZag
>> This indicator cannot be used for trading. It effectively looks into
>> the future. Say you set its threshold at 4%. It will show tops and
>> bottoms that are 4% or greater difference. If you get a high today,
>> but a higher hi 2 weeks from now, it will move the reversal to the new
>> higher high.
>>
>> It is most often used to calculate theoretical performance of a series
>> of price movements. Then you can run your indicators over the same
>> period and calculate a "capture ratio". Good for comparing indicators
>> - not trading.
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