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Zig Zag
Functioning
Can be taken on any series of date - Open, High , Low or Close.
Commonly used is close
Price 100
Zig Zag 5%
How does it work that one need to know first
If the trend is down
Then every new low will be its base
Assume the trend is falling
And 100 is the lowest at this point
The reversal will be at 105
Now when the price closes above 105
The falling move of the zig zag will be pegged at 100.
Till then any fluctuation between 100 and 105, zig zag will keep changing
The price might move to 104.90 and then fall below 100 the zig will keep
changing because the confirmation of the falling trend will come on close
above 105 assuming 100 is not getting violated.
If it falls below 100, the base changes
Say it goes to 99 then 99*1.05 add 5% to 99.
On every new low it will change the base
Any fluctuation between the base and the reversal point, zig zag will keep
changing. It will not change only when it crossed the reversal point of the
zig zag and the new based will be the new trend.
Zig Zag is bound to change
Revised form of Zig Zag - Is done in IRIS an Indian Software. In this high
and low is considered
In which the zig zag line will not be drawn up till the change does not
happen
Need to understand the functioning of Zig Zag before using it,
Many people get into an illusion that is show perfect top and bottom but it
does not.
It gets confirmed only when the reversal form the base point has been
witnessed.
Before using zig zag please get to know the mechanics other could create
trouble
From: equismetastock@xxxxxxxxxxxxxxx [mailto:equismetastock@xxxxxxxxxxxxxxx]
On Behalf Of odesi777
Sent: Saturday, June 30, 2007 2:00 PM
To: equismetastock@xxxxxxxxxxxxxxx
Subject: [EquisMetaStock Group] accurate but non-revisable signals
Please help .
Here is a code --
____________________
perc:=Input("Percent",0.2,100,0.5);
Z:=Zig(C,perc,%);
last:=ValueWhen(1,
( Z > Ref(Z,-1) AND Ref(Z,-1) < Ref(Z,-2) ) OR ( Z < Ref(Z,-1) AND
Ref(Z,-1) > Ref(Z,-2) ),
Ref(Z,-1));
pc:=(C-last) * 100 / last;
pc
_____________________
This coding gives you accurate signals but the problem is these
signals are revisable in live trading because of Zigzag.
Please guide me ,how can I make this coding which gives accurate but
non-revisable signals.
[Non-text portions of this message have been removed]
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