Hi Mike, do you know of a link to the definition of Zig-Zag. All I can find is that RTR systems devised something called zigzag, and an indicator called zigzag, but not necessarily the same thing, is talked about in Art Merrill's Filtered Waves book. I have noticed one thing--metastock isn't interpreting any of the zigzag values after the last reaction point. It draws the line, and I can read the values with the data tool, but they dont pass in the code for some reason. The values are kind of bogus anyways for the last leg because there's no true endpoint. I'll try and figure an alternative, and user programmable, way of tagging reaction points, but I think metastock's programming language is too thin to do this. Ideally, I think I'd like to base it on reversing some number of closes (user programmable), like 2 or 3, to tag a point as a reversal. I think that's a better indicator of a real reversal than an arbitrary percentage or number of points. Perhaps, like you say, a volatility band or crossover would work well. Lot's of stuff to experiment with.
dh |
