Nexus fibonacci indicator
- Göstergeler
- Sürüm: 1.0
This variant of the ZigZag indicator is recalculated at each tick
only at the bars that were not calculated yet and, therefore, it does
not overload CPU at all which is different from the standard
indicator. Besides, in this indicator drawing of a line is executed
exactly in ZIGZAG style and, therefore, the indicator correctly and
simultaneously displays two of its extreme points (High and Low) at
the same bar!
Depth is a minimum number of bars without the second maximum (minimum)
which is Deviation pips less (more) than the previous one, i.e. ZigZag
always can diverge but it may converge (or dislocate entirely) for the
value more than Deviation only after the Depth number of bars.
Backstep is a minimum number of bars between maximums (minimums).
Zigzag indicator is a number of trendlines that unite considerable
tops and bottoms on a price chart. The parameter concerning the
minimum prices changes determines the per cent value where the price
must move to generate a new "Zig" or "Zag" line. This indicator
filters the changes on an analyzed chart that are less than the set
value. Therefore, Zigzag reflects only considerable amedments. Zigzag
is used mainly for the simplified visualization of charts, as it shows
only the most important changes and reverses. Also, it can be used to
reveal the Elliott Waves and different chart figures. It is necessary
to remember that the lastindicator segment can change depending on the
changes of the analyzed data. It is one of the few indicators that can
change their previous value, in case of an asset price change.
Such an ability to correct its values according to the further price
changings makes Zigzag an excellent tool for the already formed price
changes. Therefore, there is no point in creating a trading system
based on Zigzag as it is most suitable for the analysis of historical
data not forecasting.
Good but some lagging