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Tim, it takes more than "two consecutive closes in the opposite
direction" to change and "cement" the ZigZag trend in place.
The hindsight-based ZigZag's last leg trend can only be confirmed when
the price finally completes the current % swing, and this may take
several periods depending on the ZigZag swing % used.
The ZigZag is a very useful visual tool to develop trading strategies
based on past swings, but it is actually not that useful for either
backtesting or live trading purposes.
jose '-)
http://www.metastocktools.com
--- In equismetastock@xxxxxxxxxxxxxxx, "wandaria" <kotim@xxxx> wrote:
>
> Is their a way to program in metastock a zig zag based on two
> consecutive closes in the opposite direction to change the trend. If
> it is possible can someone assist me or direct me to someone who can
> assist me.
>
> What I am effectively trying to do is a 2 consecutive close swing
> chart,kagi chart but so that I can have a confirmation when it does
> achieve this, rather than the the usual problem associated with zig
> zag type strucutres where the last leg is dynamic.
>
> My aim is to have this "indicator" and then just trade on various
> patterns from it.
>
> thanks
>
> Tim
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