Breakout zigzag ATR version
November 12, 2020, 2:40 PM
Screeners
23 Comments
This indicator uses a zigzag indicator to measure swing highs and lows. It does so by using ATR instead of % in the zigzag. If the close is beyond the high or low, the instrument will pop up in the screener list for the next 7 bars.
//zigzag indicator
ind1 = ZigZagPoint[2*averagetruerange[200]](close)
//high boundary
if ind1[1] > ind1 and ind1[2]<ind1[1] then
ind2 = highest[5](high)
endif
//low boundary
if ind1[1] < ind1 and ind1[2]>ind1[1] then
ind3 = lowest[5](low)
endif
//proscreener conditions
//upside breakout
c1 = summation[7](ind1 CROSSES OVER ind2)
//downside breakout
c2 = summation[7](ind1 CROSSES UNDER ind3)
//sorting criterium
criteria = RSI[14](close)
SCREENER[c1 OR c2] (criteria AS "RSI")
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Filename:
Breakout-zigzag-ATR-version.itf
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