RicardoSantos

[RS]ZigZag Percent Reversal - Forecast - patterns - labels

description:
Zig Zag indicator plots points on the chart whenever prices reverse
by a percentage greater than a pre-chosen variable.
• Forecasts area based on zigzag statistics.
• Displays labels with detected patterns.
• Displays slope information rate of price, time diferentials and angle(experimental)
Aug 15
Note di rilascio: Added optional input method for zigzag be based on ATR percentage of price with additional optional multiplier.
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i developped this thank you ricardo you are the best.
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Does anybody know if theres a script with only the zigzag line?
+1 Rispondi
Awesome work
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@RicardoSantos was asking which pairs and commodities does your script work well with and the time frames...and how do you adjust based on the volatility of currencies pairs
+5 Rispondi
Hi Ricardo, thanks for the great indicator!
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miaomiao18 miaomiao18
@RicardoSantos I trade trend, and spent time testing this indicator on crypto, on D and 4hr chart, it seems it doesnt work well, as the orange dash prediction line and the box seem to be moving in small rang and following the trend up. maybe it's good for trading that count on next day price up or down? or maybe I did not get how to make it work on crypto chart better?
+2 Rispondi
@miaomiao18, you need to adjust for the underlying volatility, the current zigzag method doesnt work very well with high volatility theres on the TODO list optional methods to draw the zigzag, no ETA tho..
+6 Rispondi
miaomiao18 RicardoSantos
@RicardoSantos, Thanks for your reply!
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miaomiao18 RicardoSantos
@RicardoSantos, in the box, there shows an 4 arrow star, does it indicate anything for the user? or it's something in the code to define the box size and location only?
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@miaomiao18, its the average+deviation in price/time zigzag move, in other words is the most likely target for the zigzag, this has a short pool span so it will adapt "quickly" to changes in volatility, its also the basis for the box.
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