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3_Level_ZZ_Semafor

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Re: Port of 3_Level_ZZ_Semafor MT4 indicator

Postby Apprentice » Fri Nov 16, 2012 4:47 am

If you have a good Elliott Wave counts algorithm,
will be pleasure implement it.
U can send me code or logical algorithm.
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Re: Port of 3_Level_ZZ_Semafor MT4 indicator

Postby cash4u » Thu Jan 30, 2014 5:03 pm

hi to all,
can you create a strategy based on this indicator:
buy:
1.price>zig zag low and price < lower retracement line
2.lower trend line sloping upwards(trend line ending point>trend line starting point)

sell:
1.price< zig zag high and price >upper retracement line
2.upper trendline sloping dowards(trend line ending point<trendline starting point)

exit buy:

1.price cross over upper retracement line /upper target line(optional) or
2.price cross under lower target line

exit sell:
1.price cross under lower retracement line/lower target line(optional) or
2.price cross over upper target line
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Re: Port of 3_Level_ZZ_Semafor MT4 indicator

Postby Apprentice » Sat Feb 01, 2014 2:43 pm

Your request is added to the development list.
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Re: 3_Level_ZZ_Semafor

Postby Segwin » Wed Aug 05, 2015 7:07 am

Hello Apprentice;

I use this indicator and would really appreciate it if you could add an alert so that when it prints a 3 it would trip an alert. Would help a lot.

Thanks in advance.

Terry
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Re: 3_Level_ZZ_Semafor

Postby Apprentice » Thu Aug 06, 2015 5:38 am

Your request is added to the development list.
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Re: 3_Level_ZZ_Semafor

Postby Segwin » Thu Aug 06, 2015 7:11 am

Thank you.
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Re: 3_Level_ZZ_Semafor

Postby Stance » Fri Aug 07, 2015 4:39 pm

+1 thanks for a great indicator and please make a strategy for this.
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Re: 3_Level_ZZ_Semafor

Postby mulligan » Mon Aug 10, 2015 10:55 am

For traders looking for a strategy or alert that signals when all three zigzag agree, it already exists. Go to "strategies", in the search box enter "zigzag strategy". Follow to the ZigZag Strategy by vstrelnikov. It's made for this indicator and works perfectly. Just remember the indicator repaints.

Happy trading
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Re: 3_Level_ZZ_Semafor

Postby Stance » Mon Aug 10, 2015 3:19 pm

mulligan wrote:For traders looking for a strategy or alert that signals when all three zigzag agree, it already exists. Go to "strategies", in the search box enter "zigzag strategy". Follow to the ZigZag Strategy by vstrelnikov. It's made for this indicator and works perfectly. Just remember the indicator repaints.

Happy trading


Thanks Mulligan,

I've just did a backtest of the zigzag strategy you mentioned and it doesn't match this indicator? Could the strategy be modified to match this indicator?

See below, the buy and sells isn't always happening at the 3rd zigzag.

https://dl.dropboxusercontent.com/u/68353796/zz3.png
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Re: 3_Level_ZZ_Semafor

Postby mulligan » Tue Aug 11, 2015 10:26 am

Stance,
I am a trader like yourself, not an expert programmer as the folks here at Codebase. Back testing a strategy based on an indicator that repaints will not give you real world results. Neither will looking at history as it is a perfect history. It does not reflect how many times the indicator showed up then disappeared. I have used the ZigZag Strategy as an alert with allow strategy to trade set to no. It is simply a heads up to look at the situation and consider many other factors before placing a trade. Using this strategy or any other based on a repainting indicator to actually make trades is, in my opinion, a very bad idea. If you use the strategy as an alert, you will see that indeed it matches the indicator. An indicator that comes and goes comes and goes (a lot).
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