Hi all,
Here is an home made indicator.
I took the indicator code stochastic and I integrated the ZigZag.
I thank Jose7674 very much for his code, concerning the divergences of the MACD, which I used for my indicator.
See: MACD Divergences on price and indicator
//Zero Lag ZigZag Stochastic
//Le 23 octobre 2018
//Matriciel @ www.prorealcode.com
//Sharing ProRealTime knowledge
//Settings
Q = 5
R = 5
Lookback = 120
Periode = 20
PeriodeZZ = 0.02
//Zero Lag ZigZag Stochastic
ZZH = ZigZag[PeriodeZZ](HIGH)
ZZL = ZigZag[PeriodeZZ](LOW)
plusHaut = HIGHEST[Periode](ZZH)
plusBas = LOWEST[Periode](ZZL)
A = (CLOSE - plusBas) / (plusHaut - plusBas) * 100
B = AVERAGE[Q](A)
ligneK = AVERAGE[Q](B)
Difference = (A - ligneK)
C = (B + Difference)
ZeroLagSto = AVERAGE[5](C)
ligneD = AVERAGE[R](ZeroLagSto)
///divergence baissière
IF (ZeroLagSto[1]>ZeroLagSto AND ZeroLagSto[1]>ZeroLagSto[2]) THEN
extremum2=ZeroLagSto[1]
extremum1=highest[Lookback](ZeroLagSto)
preciomax2=close[1]
preciomax=Highest[Lookback](close)
IF(extremum2<extremum1 AND preciomax2>preciomax[1]) THEN
for i=1 to Lookback
if ZeroLagSto[i]=extremum1 then
zz=i
drawsegment (barindex[1], ZeroLagSto[1], barindex[zz], ZeroLagSto[zz]) coloured(200,0,0)
ENDIF
next
ENDIF
ENDIF
///divergence haussière
IF (ZeroLagSto[1]<ZeroLagSto AND ZeroLagSto[1]<ZeroLagSto[2]) THEN
extremum22=ZeroLagSto[1]
extremum11=lowest[Lookback](ZeroLagSto)
preciomin2=close[1]
preciomin=lowest[Lookback](close)
IF(extremum22>extremum11 AND preciomin2<preciomin[1]) THEN
for i2=1 to Lookback
if ZeroLagSto[i2]=extremum11[1] then
zz2=i2
drawsegment(barindex[1], ZeroLagSto[1], barindex[zz2], ZeroLagSto[zz2]) coloured(0,200,0)
ENDIF
next
ENDIF
ENDIF
RETURN ZeroLagSto coloured(0,0,200) style(line,1) AS "ZeroLagSto", ligneD coloured(0,0,200) style(dottedline,1) AS "ligneD", 50 style(dottedline,1) AS "Middle"
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I use this indicator to help me make a decision when there is a divergence. The divergences are very significant with this indicator. Scalping is better when you trade divergences ! I use this indicator to help me make a decision when there is a divergence. The divergences are very significant with this indicator. Scalping is better when you trade divergences !
Hi, I personnaly am not a big fan of ZIGZAG indicator, as it repaints itself during time. (as the actuality becomes history, you exactly know what you should be trading) Given this in my opinion noisy aspect of the ZIGZAG indicator, how do you deal with that in your indicator ? KR Jan