Binary indicator which adopts the Zigzag mechanism but as opposed to the above two indicators, it gives always valid signals about the direction of a trend and shows when that trend was confirmed.
It does not show peaks and troughs like Zigzag, but returns +1 for valid up trends and -1 for valid downtrends and it rejects all the invalid trends.
The real power of ZZT is that its signals are never revisable, so you can let the indicator provide valid signals for both the past and the present.

// price value
price = close
// ZigZag method : 1=percent, 2=points
method = 1
// Reversal amount
amnt = 10


IF method=1 THEN
     zz0 = ZigZag[amnt](price)
ELSE
     zz0 = ZigZagPoint[amnt](price)
ENDIF

zz1 = zz0[1]
zz2 = zz0[2]

IF zz0 > zz1 AND zz1 < zz2 THEN
     ztr = zz1
ENDIF

IF zz0 < zz1 AND zz1 > zz2 THEN
     zpk = zz1
ENDIF

IF method=1 THEN
     PU = ztr + Abs(ztr) * amnt / 100
ELSE
     PU = ztr + amnt
ENDIF

IF method=1 THEN
     PD = zpk - Abs(zpk) * amnt / 100
ELSE
     PD = zpk - amnt
ENDIF

IF price >= PU AND zz0 > zz1 THEN
     res = 1
ELSIF price <= PD AND zz0 < zz1 THEN
     res = -1
ELSE
     res = 0
ENDIF

RETURN res AS"ZZT"