ZigZag Swing

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ZigZag Swing

Postby Apprentice » Fri May 20, 2016 6:33 am

EURUSD D1 (05-20-2016 1432).png

Based on request.
viewtopic.php?f=27&t=63476#p106267
ZigZag Swing.lua
(7.7 KiB) Downloaded 732 times


MT4/MQ4 version.
viewtopic.php?f=38&t=64917

The indicator was revised and updated
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Apprentice
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Re: ZigZag Swing

Postby daveb1058 » Sun May 22, 2016 5:43 am

Hi there

I have been using FXCodebase for several years and downloaded and trialed dozens of indicators I have been a forex trader for almost 10 years. Thanks for all your work. How are these fractals calculated again? Have you seen how accurate they are in determining price turns? I've checked them on everything from 1 min to weekly charts over 2 dozen markets and on various Renko brick sizes and they're accuracy appears to be near 90%. Can you tell me the formula for determining the swing points Thanks
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Re: ZigZag Swing

Postby Apprentice » Mon May 23, 2016 5:52 am

1st Level
up fractal
high [+1] is smaller than the current high
high [-1] is smaller than the current high
vice versa for Down

2nd Level
1st Level Up fractal [+1] is smaller than the current high
1st Level Up fractal [-1] is smaller than the current high
vice versa for Down

3rd Level
2nd Level Up fractal [+1] is smaller than the current high
2nd Level Up fractal [-1] is smaller than the current high
vice versa for Down

As you can see indicator has quite lag.
Defines an indication based on future price action.
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Re: ZigZag Swing

Postby Apprentice » Mon May 23, 2016 7:09 am

Minor Update.
Please re-download.
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Re: ZigZag Swing

Postby daveb1058 » Tue May 24, 2016 3:27 am

Thanks Apprentice, is there any way to hide the very small arrows? I am still trialing it, it works very well in trending markets where one might expect a retracement and turn at minor swings between the 50 and 76 fib Thanks again
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Re: ZigZag Swing

Postby Apprentice » Wed May 25, 2016 8:40 am

Level Selector Added.
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Re: ZigZag Swing

Postby haveforexfun » Wed May 25, 2016 10:31 am

Hi Apprentice,

thank you very much for this indicator. Could you please add the possibility to visualize also the first and second order swing with seperate zigzag lines and seperate style options for every line. So one could see the encapsulated trend levels.

Thank you very much
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Re: ZigZag Swing

Postby vikraj » Wed May 25, 2016 11:02 am

Thanks Apprentice,

Could you please add option to display level 2 Swing i.e Zigzag swing formed by connecting level to Pivots. If we opted for Yes then level 2 swing will be displayed along with Main Level 3 Swing. And if we opted for No only Main Swing remains.

Thanks
:)
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