Hello fellow traders.
I have to admit i am addicted to zigzag indicators in the last time. But it was always hard to develop a system based on zigzag because of the repainting. So i developed this MaCross Based ZigZag. I have never seen a similar way of creating ZZ's so it may interest somebody. May be a bit late for counter trend Zag's but for trendfollwing Zig's it seems to be fast.
In addition to allow some kind of visual backtesting the indicator draws dot's when the ZigZag indicator get's updatet. Trough this also iterating backwards to find the ZZ value is not necessary since the dot's are drawn at the same price.
Red dot means new upper peak
Blue dot means new lower peak
Of course are the MA's fully adjustable..
found a bug attached is the corrected version.
ЗигЗаг с простым, понятным и естественным принципом работы. По ценам закрытия. Без перерисовки.LeMan Objective
Индикатор показывает возможные цели движения цены.