# Trading Systems: Layman's Notes: ZigZag…

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186083

New article Layman's Notes: ZigZag… has been published:

Surely, a fey thought to trade closely to extremums visited every apprentice trader when he/she saw "enigmatic" polyline for the first time. It's so simple, indeed. Here is the maximum. And there is the minimum. A beautiful picture on the history. And what is in practice? A ray is drawn. It should seem, that is it, the peak! It is time to sell. And now we go down. But hell no! The price is treacherously moving upwards. Haw! It's a trifle, not an indicator. And you throw it out!

Again and again, we come back to the ZigZag indicator after having read some intelligent books about Elliot's wave theory, Fibo levels, Gartley's patterns, etc. An endless circle. An infinite subject to discuss.

The ZigZag indicator is a polyline that consequently joins the peaks and troughs on a price chart. In such a manner, we display the path the price has "followed" with the course of time. This brings up a question now...What are these peaks and troughs?

The article contains the following:
- the description of ZigZag;
- the description of a method to find price models "Peak" and "Trough";
- the definition of potential reverse points;
- the revelation of the indicator's additional features.

Author: Alexei Kharchenko

12

Thank you for this great work.

Can you help to me to try this? I get this error message from JOURNAL:

"2008.07.29 14:11:28 2007.01.02 08:00 TF EURUSD,H1: SetIndexBuffer function must be called from custom indicator only"

5

ggezer, this is an indicator. It is not an EA. It looks like you're trying to run it as an EA.
16319

Hi Alexei,

Why can't I see your indicator on my chart?

16319

Great indicator, thanks! ps for those using this the first time, it took a minute or so for the fib1 and fib2

to show up during which time the zig zag line disappeared. Be patient!

16319

Very Interesting, I'm trying to build an ea based on zigzag indicator and I show you the result of backtesting from may 2008 till now.

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grandemario:

Very Interesting, I'm trying to build an ea based on zigzag indicator and I show you the result of backtesting from may 2008 till now.