Indicators: Autoscaling Zigzag

[Automated-Trading]

Autoscaling Zigzag:

A zigzag indicator that uses a single input to adjust the step size for detecting wave direction changes

Author: Conor Mcnamara

[Mahdi Ebrahimzadeh]

hi there,

thanks for code.

it is better to have a zig-zag based on minimum length value. it will be more pragmatic as we want to set min length a swing can be hold instead of sensitivity or step-back in its old form.

we can use percent of price/ multiplier of ATR and other inputs for minimum length of zig-zag swings too.

[Conor Mcnamara]

Mahdi Ebrahimzadeh #:

hi there,

thanks for code.

it is better to have a zig-zag based on minimum length value. it will be more pragmatic as we want to set min length a swing can be hold instead of sensitivity or step-back in its old form.

we can use percent of price/ multiplier of ATR and other inputs for minimum length of zig-zag swings too.

Percentage of price relative to the swing price is used here (R_Step) although it's not dynamic with ATR, so I might make another version using ATR which will dynamically adjust the percentage of the price