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ZigZag is an indicator that can change its previous values as time goes forward.
For example, if you code zig(Close, 4) and the market makes a 4.5% move off the previous low as of yesterday zig would indicate a peak yesterday, but after 5 more days of market action it makes ultimately a 6% move, the zig will move its peak forward. So don't use zig to try and pick market turns.
This can be a further problem if you are backtesting with it, since the backtester has data from the future available to it, so it can look into the future - something that can't be done in the real world.
The main use I've found for ZigZag is to calculate the maximum theoretical gain possible over a time period. This gain is then compared to the gain achieved by the trading system you are developing so you can see the percent of profits captured.
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I printed out the manual at my local Kinko's and read it. Also you can go to the library of pre-coded indicators and read them - then start making modifications to see how the various afl keywords work.
ReefBreak
--- In amibroker@xxxxxxxxxxxxxxx, "lukebarker@xxx" <lukebarker@xxx> wrote:
>
> Hi
> I am new to amibroker and AFL code. i require a scan where zig zag high and lows are found, would this work or would it keep returning the same finds day after day as they make higher highs or lower lows, is it possible to scan for say a zig zag retracement where the price has made a higher high, therefore completing the zig zag.
>
> Also what is the best way to learn the AFL language? did you all learn through the aFL help guide
> cheers
>
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