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Hi
I am not the one who wrote ZigZag symmetry and I have not used it.
What I can assume by looking at the code is that this indicator deals with
the bars since last Trough / bars since last Peak ratio, in an attempt to
investigate if there is any temporal symmetry in zig's peaks and troughs. It
does not deal with zig's values but only with periods, so it should be more
appropriately called
ZigZag periods' symmetry or ZigZag temporal symmetry or something like this.
When the indicator's values are close to 1 this indicates that periods since
last peak and periods since last trough are not very different and thus
there is regularity in zig's moves.
In my opinion this symmetry is more accurately shown if one uses subtraction
instead of division:
Instead of
...
ValueWhen(1,P1=0,T1) / ValueWhen(1,T1=0,P1);1
One could use
...
ValueWhen(1,P1=0,T1) - ValueWhen(1,T1=0,P1);0
The last method also results in a more balanced oscillation around zero (0),
but again I am not the author, so.
Have in mind that since this indicator is based on Zigzag its last value is
dynamic.
So, it would be better for one to use my ZigZag validity to check zig's
reliability, before trusting any of the indicators related to Zigzag.
I don't know if this helps, but if not, then you should find and contact the
author.
Spyros
Date: Wed, 20 Feb 2002 23:31:32 +0100
From: Andyno <andyno@xxxxxxxxxxxxx>
Subject: RE: ZigZag validity
hi,
what do you think about the following old indicator?
{ZigZag Symmetry}
V1:=Input("% Change",.1,50,2);
P1:=PeakBars(1,C,V1);
T1:=TroughBars(1,C,V1);
ValueWhen(1,P1=0,T1)/ValueWhen(1,T1=0,P1);1
don't remember where it come from.
gg
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