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Zigzag for Metastock was not created with Metastock formula language (MFL).
Metastock itself is not written in MFL of course.
The zigzag indicator adapts its behavior according to new values added
in the chart (my new article in S&C, next September deals with the subject
too).
As new values come in, it has to go back and adjust its
past plot. These back and forth movements cannot be accomplished with MFL.
So the problem is not the linear lines. The problem is the revisions.
In order to be able to handle such revisions you need at least loops.
There are no loops in MFL.
I am not sure about the specific code used for creating Zigzag for MS,
altough I can guess
the basic algorithm. But, I am sure that you can find C++ VB or Delphi
versions in various Internet sites. I also think that TradeStation's code is
open.
So if you want to re-create Zigzag for MS, then YES you CAN (by writting a
dll)
but if you want to do it WITH MFL, then sorry, you will not manage to do it.
But good luck anyway!
Spyros
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Message: 3
Date: Wed, 21 May 2003 12:25:15 -0400
From: "Steve Grala" <stevegrala@xxxxxxxxxxx>
Subject: Zig Zag Formula
Still looking for the zig zag formula & how it is created in MetaStock.
Thanks for the suggestion on zig zag validity, but this indicator is not
what I am looking for. Zig zag validity uses MetaStocks zig function.
Instead, I am looking to see how MetaStock mathematically calculates the zig
zag. I would like to know how MetaStock is able to create a linear line
that zigs & zags with the percent switch points. The simple indicator that
I created works great for 1 linear line from point A to point B, but when it
comes to having it switched at predefined percentage points, i'm lost.
Searching Stocks and Commodities magazine archives, I came across the 10%
Swing Filter which is the basic idea of the zig zag. It can be found in the
February 1997 issue. The formula is written in a spreadsheet manner. It
works, but I cannot see how it can be implemented into the MetaStock
language to draw linear lines.
Thanks,
Steve
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