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Hello,
I wanted to modify a Zig Zag indicator and make it better. The zig zag indicator is basically running on percentage reverse rather than pipe amount. For example: a signal appears when the market has reached a certain percentage. This is creating many false signals especially when its slow or fast movement. It also misses a lot of highs and lows. I believe the solution is to remove the percentage function completely and replace with pips function.
I need the indicator to show non-repaint signal for research purpose. I need to see the when the signal was trigger on the chart. Also, it's very important to know the number of pips from the lowest point and the highest point of the market. Jest like the Zig Zag indicator. The Other Signals are going to repaint because the market will contain to move. Draw a Arrows Signal for easy on the eyes when other indicator is being used and the Line Signal to identify any missing highs and lows to adjust the parament. Here are the rules for signal.
Rules of Signal:
Bullish Signal: If the Market moves bullish direction and hits a certain number of pips like "25 Pips". Calculating the last signal which is the lowest point. Please create 4 option signals that are non-repaint able.
1. If Parameter Called "Target Price" is Yes: Create a non-repaint signal target in the current price on the chart "code:164" Color Lime Green.
2. If Parameter Called "Arrows Signal" is Yes: Create a Arrow Signal "Code: 233" / "size 4" Blue on the lowest point of the market from the last signal. This Signal will Repaint.
3. If Parameter Called "Line Signal" is Yes: Create a regular solid line connecting the last line signal before. just like the regular zig zag. This Signal will Repaint.
4. If Parameter Called "Pips Amount" is Yes: Create a Number of pips underneath the current lowest signal. Pips amount will change number as the market is moving.
Bearish Signal: If the Market moves bearish direction and hits a certain number of pips like "25 Pips". Calculating the last signal which is the lowest point. Please create 3 option signals that are non-repaint able.
1. If Parameter Called "Target Price" is Yes: Create a non-repaint signal target in the current price on the chart "code:164" Color Red.
2. If Parameter Called "Arrows Signal" is Yes: Create a Arrow Signal "Code 234" / "size 4" Red on the lowest point of the market from the last signal. This will Repaint.
3. If Parameter Called "Line Signal" is Yes: Create a regular solid line connecting the last line signal before. Just like the regular zig zag. This will Repaint.
4. If Parameter Called "Pips Amount" is Yes: Create a Number of pips above the current lowest signal. Pips amount will change number as the market is moving.
Let's name this Indicator: King Zig Zag
