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This trading system idea uses Peak & Trough bars which are confirmed
by Spyros Raftopoulos Zig Trend. Peak and Trough are not trusty
because the last leg of ZIG is dynamic and subject to change by
future data. However, when combined with Zig Trend, trustworthiness
is enhanced because Zig Trend does not give its signal until zig has
been confirmed to be static. Refer to message 4930. Alert holds the
zig signal until it is confirmed by &ZT... Suggest paper trading only
until it is confirmed that the last leg of ZIG is indeed confirmed to
be stable by the use of &ZT.. Open an inner window to view a 2% Zig
combined overlaid with Zig Trend to confirm buy-sell signals, and
especially the last leg which should now be under control by &ZT...
Grizz
Title: ZT Trading System
Enter Long:
Alert(TroughBars(1,C,3)=1,5) AND Fml("&zt")>0
Enter Short
Alert(PeakBars(1,C,3)=1,5) AND Fml("&zt")<0
{ end }
Enter Custom Formula Name= &ZT
{Zig Trend by Spyros Raftopoulos, message 4930}
{It is based on the Zig Zag indicator and it returns 1 for a confirmed
uptrend, and -1 for a confirmed downtrend.
also see http://eis.pl/kr/AFM/e-w-ZigZag_Trend.html}
{****************************************}
{vr:=Input("Field(0=Ind/tor,1=Open,2=High,3=Low, 4=Close)",0,4,0);}
VR:=4; {Set Closing }
{amnt:=Input("Reversal amount",0.001,1000,10);}
amnt:=2; {Set 2%}
{md:=Input("Method 1=Percent,2=Points)",1,2,1);}
md:=1; { Set % }
{****************************************}
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 custom Formula Zig Trend }
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