Zig Zag Trend

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  • #32117 quote
    Vonasi
    Moderator
    Master

    Hello everyone

    Newbie to the forum here so I hope I am posting in the right place. There is an old indicator in the library called ZigZag Trend that is of interest to me

    ZIGZAG TREND

    It is supposed to return +1 for an up trend in the zigzag indicator or -1 for a downtrend. I cannot get it to work on PRT 10.3 – it just returns zero all the time. Can anyone help me by getting it to work or write something similar that does work on 10.3. The image with the listing is a little confusing as it shows the indicator returning zero for a lot of the time where I would have thought it should be +1 or -1 all the time with no zero. I also fully understand that zigzag indicators repaint but what I am looking for is an indicator that returns a value positive or negative that indicates whether at that moment in time (close of candle) the zigzag set at say 1% is trending up or down. This value would be interesting to try out in various strategies I am considering.

    Thanks for any help

    #32423 quote
    Nicolas
    Keymaster
    Master

    This is the answer I made about your question in the library:

    You need to change the ‘amnt’ variable to a percentage, so if you set it to 10 it represents a 10% needed for a new zigzag to be found, which is quite enormous for many instruments / timeframe.

    So you must lower this value to a valid percentage, 3% for a daily timeframe analysis is acceptable.

    zigzag-trend.png zigzag-trend.png
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Zig Zag Trend


General Trading: Market Analysis & Manual Trading

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Vonasi @vonasi Moderator
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This topic contains 1 reply,
has 2 voices, and was last updated by Nicolas
8 years, 10 months ago.

Topic Details
Forum: General Trading: Market Analysis & Manual Trading
Language: English
Started: 04/15/2017
Status: Active
Attachments: 1 files
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