Indicators: ZigZagNN

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ZigZagNN:

The indicator shows recalculated ("broken") highs/lows of the standard ZigZag indicator.

The indicator allows to estimate the quality of the standard ZigZag indicator. The broken extremums are marked with diamonds.

Author: yu-sha

ZigZagNN indicator

 
Not enough separation of dots into blue-red/support-resistance
 

It is not completely honest, as there is only one arrow on each bar at the High or Low level of the candle. While the real triggering of the Zig-Zag occurs much earlier. This can be seen in the visualisation.

In other words, if the arrows remained in the middle of the candlesticks, at the trigger level (at least new ones, after visualisation or drawn on the newly appeared candlesticks), it would be more honest.

But as it is, you can see that the usual zig-zag (like most indicators) is redrawn and misleading.

 
I guess honest zigzag is a subjective concept, everyone sees its honesty differently.
 

Thanks  .... Very helpful

but ... when I increase ExtDepth ...  for example to 36 ... it create error : zigzagnn__2 (EURUSD.m,M15)    array out of range in 'zigzagnn__2.mq5' (208,33)

please help

thanks

 
This is an excellent indicator, thank you for your work
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