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Using the ZigZag indicator in an indicator is a very bad idea. Unlike
most other indicators, the ZigZag can revise itself back into the
past. The last Zig can move and even get absorbed back into the
previous Zag - not a good quality for a trading system indicator to
have.
The ZigZag is very useful for spotting chart patterns in the past -
not much else IMHO.
Chip
http://coolhistory.com/ChipsCharts
---waheeb <WAHEEB@xxxxxxxxxxxxxx> wrote:
>
> I am trying to write an indicator and ZigZag is one of the
components, Does
>
> any one know the formula for ZigZag?
> I couldn't understand the turning points of this indicator.
> If I set the reversal amount to be $10, where should it reverse and
do you
> calculate
> it from the previous point, one day before or one day after.
>
> Thanks in advance
>
> waheeb
>
>
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