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I'm still using a variation of ZigZag SR, trading QQQ 15 min chart with 3%
setting to good effect. At times I have taken the scalping approach of
exiting trades upon the first ZigZag validity "zero" signal, even though it
might reconfirm as valid later. (For example, I closed a long trade in the
QQQ at 2:45 on Fri 2/21, while ZigZagSR is theoretically still long until
QQQ hits 24.55 for a short.)
In choppy range bound markets, this has kept my account above break-even
despite the fact that zigzag is a trending type market system. The
challenge is, of course, deciding whether to re-enter the trade if validity
reconfirms valid in the same direction... All of which gets very intuitive,
and makes me wonder if there has been any further design work on this
system, which would get one in and out of valid micro trends in range-bound
markets without suffering the stops and reversals that can wipe you out with
a trending system in a market like this one.
Is there anyone else still hung up on zigzag based systems or other simple
percentage-reversal type trading? I'd be happy to share some code with
those wondering about this (if you missed previous threads), and would
welcome any updates on what Spyros did with his zigzag validity work, if
anything further.
NorCalTrader
P.S. thanks to the group for the Greek lessons!
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