RE:Re: SR ZigZag Trend by Spyros Raftopoulos

["SR" <raftsp@xxxxxxxxx>]

Theo

I just sent a similar responce to David so this is a copy of the message I
sent him.

1. Make 5 fixed amount indicators called "SR ZZT1", "SR ZZT2", ..."SR ZZT5"
that use different reversal amounts.
I had suggested 3%, 5%, 10%, 15% and 20% respectively, but one can use
Fibonacci numbers instead:
3, 5, 8, 13, 21 or try other values. Some users complained that they don't
see anything displayed in their charts.
If this happens, use lower numbers for the reversal amounts and/or increase
the number of periods displayed in your chart.
The code for each one of the SR ZZTs is this:

{**********************************************************}
{SR ZZT1}
amnt:=3; {This is different for each of the 5 indicators}

{ Don't change anything below this line unless you know what you are doing}
md:=1;
vr:=CLOSE;
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
{**********************************************************}

This was the code for SR ZZT1. After you have created it, make a copy of it,
name it "SR ZZT2" and change the reversal amount to read
amnt:=5;
Leave the rest of the code as it is. Make subsequent copies, each time using
a different amount, until you have made all 5 SR ZZTs.
After you've done that create the SR ZZTsum indicator:

{**********************************************************}
{SR ZZTsum}
Fml("SR ZZT1") + Fml("SR ZZT2") + Fml("SR ZZT3") + Fml("SR ZZT4") + Fml("SR
ZZT5")
{**********************************************************}

Since this indicator sums the 5 binary (1 or -1) SR ZZTs, it returns these
values:
5, 3, 1, -1, -3, -5.
where 5 represents a very strong uptrend and -5 a very strong downtrend.

Then you can make an Expert (highlights or whatever) for better visual
inspection of the trends.
The Expert may call SR ZZTsum or/and all the SR ZZTs separately.
For example

Make a new Highlight with following elements:
Name: Uptrend very strong
Color: Green
Condition: fml("SR ZZTsum")=5

Proceed until you've made 6 Highlights with the following names, colors and
fml("SR ZZTsum")=amounts:
Uptrend strong, Cyan, 3
Uptrend medium, Blue, 1
Downtrend medium, Yellow, -1
Downtrend strong, Magenta, -3
Downtrend very strong, Red, -5

For better contrast use DkGray color for the background. Study the
alternation of the trends by observing the changes of colors. It is
interesting I think.
When you have finally found your new way to get rich you will have to share
it with me of course :-)

You can also make a brief commentary which informs you about each SR ZZT:

{**********************************************************}
Confirmed Trends

SR ZZT1 = writeval(fml("SR ZZT1"),2.0) (writeif(fml("SR ZZT1")=1,
"up","down"))
SR ZZT2 = writeval(fml("SR ZZT2"),2.0) (writeif(fml("SR ZZT2")=1,
"up","down"))
SR ZZT3 = writeval(fml("SR ZZT3"),2.0) (writeif(fml("SR ZZT3")=1,
"up","down"))
SR ZZT4 = writeval(fml("SR ZZT4"),2.0) (writeif(fml("SR ZZT4")=1,
"up","down"))
SR ZZT5 = writeval(fml("SR ZZT5"),2.0) (writeif(fml("SR ZZT5")=1,
"up","down"))

SR ZZTsum = writeval(fml("SR ZZTsum"),2.0)
{**********************************************************}

I hope this helps.

Happy trends!

Spyros


Date: Wed, 4 Sep 2002 10:14:30 +0200
From: "Theo Lockefeer" <sky40912@xxxxxxxxx>
Subject: Re: SR ZigZag Trend by Spyros Raftopoulos

Yes Spyros :

Many Thanks for all your appriciated efforts !
Of course interested too in the formula for the "SR ZZTsum" indicator.

I will let you know afterwards what i think of them.

Thanks again

Theo