Stock Portfolio Organizer

The ultimate porfolio management solution.

Shares, Margin, CFD's, Futures and Forex
EOD and Realtime
Dividends and Trust Distributions
And Much More ....
For Portfolio Manager Click Here

WiseTrader Toolbox

#1 Selling Amibroker Plugin featuring:

Advanced Adaptive Indicators
Advanced Pattern Exploration
Neural Networks
And Much More ....
Find Out More Here

Zig-Zag Indicator with Buy/Sell Points for Amibroker (AFL)
atirock
about 12 years ago
Amibroker (AFL)

Rating:
3 / 5 (Votes 2)
Tags:
amibroker, pivots, zigzag

Interpreting the Zig-Zag Indicator

The Zig-Zag indicator is extremely useful for determining price trends, support and resistance areas, and classic chart patterns like head and shoulders, double bottoms and double tops. The Zig-Zag indicators uses both swing highs and swing lows in its calculation:

Swing Highs: When a price (usually close) is both higher than the price previous to it and after it.
Swing Lows: When a price is both lower than the price prior to it and lower than the price following it.
The Zig-Zag indicator can use both percentages or points in its construction. To construct the Zig-Zag indicator, there must be a certain percentage or number of points between a swing high and a swing low before a line will be drawn. The chart below of the E-mini Nasdaq 100 Futures contract visually illustrates the difference between a price retracement Zig-Zag of 3% and a price retracement Zig-Zag of 5%:

Screenshots

Similar Indicators / Formulas

Combination
Submitted by morgen over 14 years ago
Shenba Kumar Pivots
Submitted by kum01049 almost 15 years ago
Woodie's Price Panel With Woodie's Pivots
Submitted by kaiji almost 15 years ago
Floor Pivots
Submitted by stjeanluc over 12 years ago
Pivot Point - CDP
Submitted by rajugm over 14 years ago
Pivot Trading All-In-One
Submitted by kirthi1987 over 14 years ago

Indicator / Formula

Copy & Paste Friendly
_SECTION_BEGIN("ZIG-ZAG");
Z=Param("zig",1,0,10,0.1);
Plot( z1 = Zig(C,z), "Zig-zag Indicator" + _PARAM_VALUES(), ParamColor("Zig-zag color", colorOrange ), ParamStyle("Zig-zag style") );

Buy = Cover = Zig(C,z)>Ref(Zig(C,z),-1) AND Ref(Zig(C,z),-2)>Ref(Zig(C,z),-1);
Sell = Short = Zig(C,z)<Ref(Zig(C,z),-1) AND Ref(Zig(C,z),-2)<Ref(Zig(C,z),-1);

Buy=ExRem(Buy,Sell);
Sell=ExRem(Sell,Buy);
Short=ExRem(Short,Cover);
Cover=ExRem(Cover,Short);

Filter = Buy OR Sell;

PlotShapes(IIf(Buy, shapeCircle, shapeNone),colorGreen, 0,BuyPrice, 0);
PlotShapes(IIf(Sell, shapeCircle, shapeNone),colorRed, 0,SellPrice, 0);

dist = 1.5*ATR(10);
for( i = 0; i < BarCount; i++ )
{
if( Buy[i] ) PlotText( "BUY\n"+C[ i ], i, BuyPrice[i]-dist[i],colorWhite, colorGreen );
if( Sell[i] ) PlotText( "SELL\n"+C[ i ], i, SellPrice[i]+dist[i],colorWhite, colorRed );
//if( Short[i] ) PlotText( "Short\n@" + C[ i ], i, H[ i ]+dist[i], colorRed, colorYellow );
//if( Cover[i] ) PlotText( "Cover\n@" + C[ i ], i, L[ i ]-dist[i],colorGreen );
}

3 comments

1. hmsanil

Thanks

Sudha

2. sornapercula

Pls give trading method to my mail sornapercula@gmaol.com

3. financial_consultant19

Thanks Bro,
its very help full add on to my existing formula

Leave Comment

Please login here to leave a comment.

Back