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George,
The zig is dynamic meaning that it will change from one day to the
next and is therefore somewhat unreliable. Spyros Raftopoulos has
done extensive work on this in the past. There are 3 files
containing his work and findings in the group files section. Check
those out for a better understanding of the problem/s related to
using this indicator. You can also google on his name and find more.
Hope this helps,
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, "georgeabraham3"
<georgeabraham3@xxx> wrote:
>
>
>
>
> Hi,
> Reg: Zig Zag indicator
>
>
> Regarding the Zig Zag indicator, the Users manual
> says "Reversal Amount. Enter the amount that will cause a
reversal.
> For example, if you enter "5," a five percent move is required to
> cause a bend (i.e., zig or zag) in the Zig Zag indicator".
>
> I had applied the indicator Zig Zag(c,5,%) to a chart. I
> found that even when the difference in the price of the stock
> between 2 consecutive days is less than 5%, the indicator changes
> direction.
>
> Below is the date, closing price of the stock and the
> percentage difference between 2 consecutive days. I have also
marked
> the dates * on which the Zig Zag indicator had changed direction.
>
> Date Closing price % Change
> ((C-Ref(C,-1))/Ref(C,-1))*100
>
> 12.17.2007 389.65 -7.5125
> 12.18.2007 398.15 +2.1814
> 12.19.2007 395.65 -0.6279
> 12.20.2007 389.35 -1.5923
> 12.24.2007 402.60 * +3.4031
> 12.26.2007 412.45 +2.4466
> 12.27.2007 407.30 -1.2486
> 12.28.2007 423.95 +4.0879
> 12.31.2007 431.95 +1.8870
> 1.1.2008 427.75 * -0.9723
> 1.2.2008 421.80 -1.3910
> 1.3.2008 423.85 +0.48860
> 1.4.2008 428.10 +1.0027
> 1.7.2008 417.95 -2.3709
> 1.8.2008 405.20 -3.0506
> 1.9.2008 402.15 -0.7527
> 1.10.2008 387.20 -3.7175
> 1.11.2008 388.30 * +0.2841
>
> Can any one please explain why this happens? (This happens to all
my
> charts)
>
> I would also like to know whether there is a way
> (exploration) to find out if the last leg of the Zig Zag indicator
> has changed direction.
>
> Thanks in advance,
>
> George
>
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