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Eric
The only confirmation of ZigZag using ZigZag is when the next zig occurs.
I'm not sure if this is the latest version, but Spyros created this indicator to be used in
conjunction with ZigZag, Peak and Trough functions. I'm sure someone will give you a later version
if there is one.
{ZigZag validity}
perc:=Input("Percent",1,100,1.5);
Z:=Zig(C,perc,%);
last:=ValueWhen(1,
(Z>Ref(Z,-1) AND Ref(Z,-1)<Ref(Z,-2)) OR
(Z<Ref(Z,-1) AND Ref(Z,-1)>Ref(Z,-2)),
Ref(Z,-1));
pc:=(C-last) * 100 / last;
pc:= Abs(pc);
SD:=(z>Ref(z,-1) AND Ref(z,-1)>Ref(z,-2)) OR (z<Ref(z,-1) AND
Ref(z,-1)<Ref(z,-2));
res:=If(pc>=perc ,1,0);
If(Alert(res,2) AND SD,1,res);
Kind regards
Roy Larsen
www.metastocktips.co.nz
Free formulas and MS links
> Does anyone know the detailed information about the build-in
> indicators - Peak, Trough and Zigzag? According to those build-in
> indicators with option with different sensitivity, such as 1%
> sensitivity, is this sensitivity based on specific price level
> [H,L,C,O] or the range of fluctuation between recent peak and trough
> to confirm the Peak and Trough?
>
> According to Peak(1,C,1), it is the recent peak with 1% sensitivity,
> Does anyone know how to determine the triggered level for
> confirmation? will it be the formula as shown below;
>
> 1) Zigzag based on Range of Fluctuation to determine peak and trough
> Peak(1,C,1) - (Peak(1,C,1) - Trough(1,C,1))*(1+1/100) [1% of the
> range below the peak] = the triggered level for confirmation or
>
> 2) Zigzag based on Price Percentage to determine peak and trough
> Peak(1,C,1)*(1-1/100) [99% of the peak level]
>
> In order to confirm the triggered level for Zigzag, which one should
> I use for confirmation (1 or 2)?
>
> Thank you
> Eric
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