Zigzag indicators - page 39

TCT
162
TCT  
Robot Trader:
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.

Look here.... ZigZag of Orlov - MQL4 Code Base

nigelpknight
56
nigelpknight  
trendchangetrader:
Look here.... ZigZag of Orlov - MQL4 Code Base

Thanks for sharing I will check it out. RT

nigelpknight
56
nigelpknight  
trendchangetrader:
Look here.... ZigZag of Orlov - MQL4 Code Base

I have checked it out and it does give you the option to use closed candle price, but it does not follow the MT4 standard Zig Zig setting

ExtDepth = 12

ExtDeviation = 5

ExtBackstep = 3

What I am also wanting to do is filter out the spikes caused by market manipulation, so based on my idea in post 381, either the High/Low or Closed price would be used depending on how quickly the market retraced after say a news release.

What I would like to know is whether my idea can be coded into a Zig Zag indicator.

Files:
zig_zag.gif 66 kb
Mladen Rakic
135741
Mladen Rakic  
Robot Trader:
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?

Robot Trader

You can not measure the time that way on already closed bars, so there is no acceptable way of doing it for past data. Even for current data, since it depends in zigzag on past data it would not work (it is a kind of a vicious circle)

nigelpknight
56
nigelpknight  
mladen:
Robot Trader You can not measure the time that way on already closed bars, so there is no acceptable way of doing it for past data. Even for current data, since it depends in zigzag on past data it would not work (it is a kind of a vicious circle)

mladen

Thank you for your reply, so an indicator cannot measure the time relationship between a High/Low and the close price of a price bar. Is there any other way that spikes can be filtered out of a Zig Zag pattern indicator, would it be possible for the indicator to take the High/Low away from the closed price in a pip value for the last closed bar and then compare that to say the average value of this same sum carried out on the previous 5 closed price bars. Then if this is found to be over a given percentage in relation to the previous 5 closed bars, we have a market spike and therefore the last bars closed position is used for the Zig Zag pattern.

prykala
34
prykala  

I am looking for simplestZIGZAG indicator ever. But can't find it.

I take normal ZIGZAG put on my screen but it repaint and we all know this. Now i wont to see all signals: repainted signals and not repainted.

Maybe its posiblive to print dot red or green when zigzga signal show. And then dont delete this dot?

I wont to see on my chart all signals and calculate how bad repaint normal zig zag.

please help.

p.s. I dont think about NRP ZIGZAG and all of this kind. Why? Because it show anoder signal to normal standard zigzag. And it show in past.

okoli
108
okoli  
prykala:
I am looking for simplestZIGZAG indicator ever. But can't find it.

I take normal ZIGZAG put on my screen but it repaint and we all know this. Now i wont to see all signals: repainted signals and not repainted.

Maybe its posiblive to print dot red or green when zigzga signal show. And then dont delete this dot?

I wont to see on my chart all signals and calculate how bad repaint normal zig zag.

please help.

p.s. I dont think about NRP ZIGZAG and all of this kind. Why? Because it show anoder signal to normal standard zigzag. And it show in past.

This may be what you are looking for. You might set the minbars to your desired number. I prefer from 4 and above.

Check it out.

Files:
prykala
34
prykala  
okoli:
This may be what you are looking for. You might set the minbars to your desired number. I prefer from 4 and above. Check it out.

Thanks for your help :)

Its very usefull but this is not Normal ZIGZAG from mt4. I dont see in settings from normal zigzag.

I am looking for Standard ZIGZAG.

Zigzag i real live looks like this. I point this red dot to show what i wont to se on my screen.

It must looking like this: i want to see all repaints of zigzag. ALL:

please help. Please :)

winner246
330
winner246  

3 semafor with kumo cloud as filter

HELLO MLADEN,

Can you kindly add this additional rule to serve as filter against premature tops and bottoms that the zigzag would have given as signals.

NEW RULES

1) For a HIGH zigzag signal,price MUST FIRST CLOSE ABOVE THE KUMO CLOUD

2) For a BOTTOM zigzag signal,price MUST FIRST CLOSE BELOW THE KUMO CLOUD

3) Once price is ABOVE THE KUMO, EVERY NEW ZIGZAG HIGH SIGNAL MUST BE A HIGHER PRICE THAN THE PRICE OF THE PRECEDING ZIGZAG TOP . ( THIS RULE WILL HOLD UNTIL PRICE REVERSES AND CLOSES BELOW THE CLOUD )

4) Zigzag bottom signals will also be the opposite of rule 3 above.

Finally i prefer the design of 3 SEMAFOR instead of drawing lines between swing points.

Many many thanks for your invaluable services.

tampa
2047
tampa  

Simple zigzag indicator. Mode 0 : points, Mode 1 : percent

Files: