ZIGZAG pip values

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ZIGZAG pip values

Postby 7510109079 » Tue Jul 17, 2018 11:43 am

Can i please request an indicator that displays the following info (see chart info) in Pips

No. ZigZag Cycles
Mean no. Pips (Ups & Downs)
Mean no. Pips (Ups only)
Mean no. Pips (Downs only)
Max. Pip ZigZag
Min. Pip ZigZag


The Logic behind this request:
======================
If the user has statistical info on the swings present on a chart they can use this information to predict the likelihood of a current swing extending further
e.g.
in the example shown the smallest swing in the chart extent is 29 pips. This means under those current zigzag settings (21,5,3) an 'initial' swing can be formed by as little as a 29 pip move. If the average move (in this example) is 52 pips and the maximum move is 281 pips, when the users sees an intial swing of 29 pips form, there is a good statistical chance that the swing will reach 52 pips and possibly a lot more. This is therefore a good indication of a possible trade setup. The user could then use other methods to determine a more precise entry in the continued direction.


Notes:
the user could specify a historic date or a number of candle periods for the statistics to be derived from, or the indicator could just use the current chart extent in which case the stats info top right would be updated as the user scrolls further back into chart history. Whatever is easiest is probably the best option
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