Here is the description of the indicator : VR---FIGURA
Anyone has a zigzag indicator with less false signals than the basic zigzag. I'm very appriciate
You are asking for something that cannot exist in principle. Zigzag just draws lines on the chart as it is programmed to. Nothing else.
And this applies to any other indicator
Can you share you cm monitor>?
channel zig zag
Hi zig zagger,
Could you please put email alert and pop up window alert to this indicator when new white line appear on the chart?
Here is a version which alerts when the direction of the last zigzag leg changes (when the zigzag trend changes). Set the alertsOn to true to activate alerts, the rest is about what kind of alerts you wish
Thanks a lot Mladen, you are so helpful !
Does anyone know of a Zig Zag indicator that can use open and closed price from price bars instead of High and Low prices. I want to try and filter out spikes caused by fundamental news releases. I want to use this type of Zig Zag indicator in conjunction with the ZUP pattern recognition indicator, to see if patterns are more reliable when filtering out market spikes.
Further to my last post a Zig Zag indicator that can use High/Low and Open/Close prices would be better with a Time allowance parameter.
For example if High/Close allowance = 120 (seconds) and the last price bar closed within 450 seconds of the High being formed, then the indicator would use the High price point of that bar for the Zig Zag, however if bar closed within 90 seconds of the High then the closed bar value would be used. This idea could be taken a step further by adding a pip count parameter to measure the value of the spike, for example if the High/Close Pip value = 70 (pips) then the spike must be at least 70 pips between High and Closed price when the Time conditions are met if it is not the price bar High point is used because the spike was not large enough to be a Market Manipulation or News release.
Can these two parameters be code to a Zig Zag indicator or are they more EA type parameters?