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Theo:
Thanks for your interest.
I agree that there is no magic indicator. Mine is not one for sure!
On the contrary, what is nice about SR ZZT - I think - is exactly this: it
takes all the magic apart from the zigzag indicator and it leaves there what
is only trustworthy, "tradable" and not revisable. So maybe what one gets
from SR ZZT does not seem as promising as that from the zigzag itself, but
with my indicator WYSIWYG (What You See Is What You Get), whereas with
zigzag this is NOT true at all! Of course this does not mean that the zigzag
indicator is not a great tool for TA. Quite the opposite. Actually SR ZZT is
based on it! But you can't use zigzag in systems and you cannot trust its
last leg. That's all.
As I said, the code for the fourth (last) version of SR ZZT has already been
posted to this group too, but only a couple of users seem to have noticed
it... I guess I will have to publish it in TASC first :-)
Before I provide the code I will have to ask you and everyone else who will
use it or refer to it
1. to not change its name, which is "SR ZigZag Trend" or just "SR ZZT"
2. to not use it for commercial purposes and to not post or publish it
outside this group without my permission
3. to not publish any changes made to its code before first discussing them
with me
4. to not use the whole code or significant part of it in other indicators
or tools except if this is done for his/her own use.
Needless to say that I am ready to discuss any suggestions and to answer any
relative questions if I can.
I am sorry for the above restrictions, but I have already seen my previous
indicator published by sites I had never visited before and I hear confusing
names like "zigzagSR" or whatever all the time. So let's stick to the name
and the code given until we all agree that they should be changed :-)
So here it is.
{SR ZigZag Trend (SR ZZT) v.4}
{by Spyros Raftopoulos}
{It is based on the Metastock Zigzag indicator and it returns 1 for a
confirmed
uptrend, and -1 for a confirmed downtrend.}
{****************************************}
vr:=Input("Field (0=Ind/tor, 1=Open, 2=High, 3=Low, 4=Close)",0,4,0);
amnt:=Input("Reversal amount",0.001,1000,10);
md:=Input("Method (1=Percent, 2=Points)",1,2,1);
{****************************************}
vr:=If(vr=1,OPEN,If(vr=2,HIGH,If(vr=3,LOW,If(vr=4,CLOSE,P))));
zz0:=If(md=1, Zig(vr,amnt,%), Zig(vr,amnt,$));
zz1:=Ref(zz0,-1);
zz2:=Ref(zz0,-2);
{****************************************}
tr:=ValueWhen(1,zz0>zz1 AND zz1<zz2, zz1);
pk:=ValueWhen(1,zz0<zz1 AND zz1>zz2, zz1);
PU:=If(md=1,tr+Abs(tr)*amnt/100,tr+amnt);
PD:=If(md=1,pk-Abs(pk)*amnt/100,pk-amnt);
res:=If(vr>=PU AND zz0>zz1,1,
If(vr<=PD AND zz0<zz1,-1,0));
res:=If(res<>0,res,ValueWhen(1,res<>0,res));
res
{*********** End of code ***************}
I guess you have missed my "SR ZZTsum" too. So, if you find the above one
interesting, then ask me to send this one too. SR ZZTsum is nothing really
new as it is based on SR ZigZag Trend. Nevertheless the news are that it
works very good in several markets.
Happy trends!
Spyros
---------------------------------------
Date: Sun, 1 Sep 2002 20:40:02 +0200
From: "Theo Lockefeer" <sky40912@xxxxxxxxx>
Subject: Re: ZigZag Validity vs SR ZigZag Trend by Spyros Raftopoulos
Spyros :
1) Thanks for your "intervention"
of course i am very interested in your new
SR ZigZag Trend indicator.
I am sure you will find the code for the fourth version of "SR ZZT"
TL : i am not ! :)
===========> so please send it to this list asap !
to my humble opinion there is no one "super" indicator
(although i didnot see the SR ZigZag Trend yet - so i am carefull ;) )
but in a "multiple super indicator set" there is room for a very good Zig
Zag.!
Thanks again
Theo
- ----- Original Message -----
From: "SR" <raftsp@xxxxxxxxx>
To: <metastock@xxxxxxxxxxxxxxxxxx>
Sent: Sunday, September 01, 2002 6:36 PM
Subject: ZigZag Validity vs SR ZigZag Trend by Spyros Raftopoulos
> Theo and Pierre and all,
>
> the "ZigZag Validity" indicator was my first attempt to confront the
problem
> of the validity of zig().
> Please have in mind that this indicator deals ONLY with the LAST dynamic
leg
> of zig(). It is perfectly reliable in what it says, but it says only if
the
> LAST trend indicated by the zigzag indicator (its direction NOW) is
subject
> to revision or not.
> The code for this indicator of mine had been sent a couple of months ago
to
> the "TASC" and recently to the "Guppy Traders" who will also publish a
> similar article of mine, soon.
> But in the meanwhile, I made a newer and much more powerfull indicator
named
> "SR ZigZag Trend" which was posted to various groups including this one. I
> guess that soon there will be an article for this indicator too.
> Unfortunately many users have not completely understood the differences
> between the two indicators (some of them even confuse their names). So I
> think it's a good idea to explain what each indicator is used for:
>
> ZigZag Validity:
> It returns 1 for valid LAST leg of zig() - regardless of zig's direction -
> and 0 for revisable (NOT valid) LAST leg. It is NOT a stand-alone
indicator,
> but it has to be used WITH the zigzag indicator.
> Usefull for visual inspection only. ZigZag Validity's PAST readings are
NOT
> trustworthy. It must NOT be used in systems.
> It does NOT say the truth about the past, but it is absolutely RELIABLE
> about the PRESENT! (Strange but true!)
>
> SR ZigZag Trend:
> It returns 1 for valid uptrend and -1 for valid downtrend, REJECTING ALL
the
> INVALID readings of zig().
> It can be used as a stand-alone indicator (even in zig's place).
> Usefull for visual inspection but also for many other purposes. ALL its
> readings (present and past) are trusty. It can be safely used in systems
and
> if pasted in the system tester its variables can be even optimized.
> It can and it certainly WILL be used as a basis for other indicators.
We've
> only just begun :-)
>
> In my opinion one does not really need my "ZigZag Validity" anymore. One
can
> do the job much more effectively with "SR ZigZag Trend" which is allways
> reliable and safe. Additionally "SR ZigZag Trend" ("SR ZZT" for short)
> returns also the direction of the trend. It is like having an always valid
> zigzag indicator!
>
> I am sure you will find the code for the fourth version of "SR ZZT"
> somewhere in your past messages from the group. If you don't have it I
will
> be happy to provide it.
>
> I hope this helps.
> Spyros
>
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