Indicators: Fast ZigZag - page 2
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Suppose you know the future, i.e. you see the final vertices of two different ZZs. One makes the described skips, the other does not.
Then you will earn 11 pips (1 trade) on the one that does not make skips, and 31 pips (3 trades - 10, 10, 11) on the one without skips. It was about setting a min knee of 10 pips.
It's about assessing the drama of the situation.
What's even more interesting:
on different market ECN/STP brokers even the correct ZZ on the same symbol will have different indicators. This is again about dramatism and its estimation.
P.S. And, of course, what is the semantic load of a correct ZigZag, which takes into account prices (all of them are written in MT4 and MT5), which have minimal volume (illiquid) or last min. time (no time to execute at least because of latency)?
Nah, your code is the maximum that can be done on two buffers. Further improvement requires additional buffers.
Well you are wrong here, it is not the maximum at all ... This zigzag tracks one inflection because it uses only one parameter in the analysis, but there is nothing stopping it from tracking two or three or four ... the last two or three or four kinks if you need to use more parameters in the analysis.
Still, are there going to be examples? Or is the first post just emotion.
Do you really believe that missing one knee in ZigZage when the price changes by 1 pip is a dramatic error for the trading system?
Well... zigzags with two buffers are quite inconvenient in this respect. Therefore, if you provide your zigzag with a code that will collect N last vertices (in the correct order), users of your code will thank you at least.
The meaning of very many characteristics of the symbol under study appears when one takes into account the price of the symbol, filtering it from many factors: aggreggation, illiquidity, commission, clearing, market makers' spreads, latency, etc.
This seemingly difficult to calculate price is very close to the elementary Avg-price = (Bid + Ask) / 2. Therefore, itis worth building most indicators, including ZZ, on the history of Avg-price.
Mm-hmm. Only it is not, but can appear.
for counter-trend strategy or trading on paternas - double tops and so on.
ZYZ: can someone make a coloured ZZ, for example like this: if the price has passed from the formed top 1/3 red ray, 2/3 yellow, 3/3 and more blue colour.
ZYZY: for the previous ZY you can try in % ratio 1/10, 2/10,3/10...10/10 like mql5 allows 10 indicator buffers to use.
Then let's decide for which strategies Zigzag, or more precisely its breaks, may be needed - for trend or range trading?
Probably not for range trading. Because of the "repricing". For trend trading. And for statistics. I hope you will not argue that a zigzag can be a powerful and useful tool for a trader?
I will only express my opinion that a really necessary zigzag should have a basis not only on the basis of high-low on the plots, but also on the basis of more correct VA.
In view of the lack of time and knowledge of the constructions themselves, I can offer to implement the following construction on a voluntary basis for general kodobaza.
I do not know the functionality of the zigzag itself (how the calculations are done), but I have a graphical representation.
The indicator in the window is a special AO, on which you can do VA. So if the zigzag would be built on the breakdown of the line OL line SP, and in the areas of divergence determined high-low on candlesticks.
If there is interest, let's continue.
Long live another zigzag! There are already 17 of them in the mql5 codebase, and as many as 93 in the mql4 base! Just some kind of multiple personality this zigzag. I predict that the next zigzag will be called the right one.