I like this very much. The only trendline that can be used in a strategy indeed. Now, can the point level and point date be automatically definded by the past zig zag turning points?
With zig zag settings set by user also?
When zig zag turns from red (downtrend) to green (uptrend), make that point 1
When zig zag turns from green (uptrend) to red (downtrend), make that point 2
This would make an "uptrend" line, color = green
When zig zag turns from green (uptrend) to red (downtrend), make that point 1
When zig zag turns from red (downtrend) to green (uptrend), make that point 2
This would make a "downtrend" line, color = red
And to have multiple lines like this not just two, on all past zig zag points? But all independently named (up1, dn1, up2, dn2 etc)
I have something that made in Excel to detect zig zag swings from past historical data exported from marketscope "table" view with zigzag indicator applied, please see screenshot for formulas if they might be useful to help. Now the only thing is to take the date from that period too and the parameters can be populated. This indicator would gain much power this way.
- Low point
- High point
Never chase the money, let the money come to me