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Spyros
I have encountered some problems with 'ZigZag Validity' which you may want
to address.
The first problem may not be fixable because the very nature of the ZigZag
scan pattern means it needs to examine the bar after the Zig has turned. The
issue is that if the percent threshold is reached on the bar after a peak
(or trough) then the indicator cannot signal valid until the following bar.
This leads into second problem where, when the threshold being reached is
missed on the first bar after a transition, the second and subsequent bars
will not cause valid to go true either unless the bar to bar change drops
below the 'perc' threshold value.
This situation is most likely to occur when the indicator is set to a small
percentage, and day to day price swings or movements are larger than that of
the 'perc' setting. The way the indicator is written it will only go true
when 'pc' crosses 'perc'. The indicator fails when 'pc' remains higher than
'perc' at and after a new peak/trough.
I am sure the second problem can be fixed, though I fear that we shall have
to live with the first one. This still holds the prospect of being one of
the more useful MS tools I have seen.
Roy
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