<< Zig zag is just for show, not an indicator to buy off of. Even Equis knows this by the warnings they place in Help and manual >>
Hi Richard,
From my Metastock Professional Help File
- The Zig Zag indicator is useful to filter out "noise" in a security's price and indicators.
- It is primarily intended to aid in the visual inspection of a chart.
- The Zig Zag indicator can be useful for those concerned with Elliot Wave counts, since it helps identify significant turning points.
- Be forewarned, that the last leg (i.e., segment) of the Zig Zag is dynamic, meaning that it can change. Therefore, be careful when designing system tests, experts, etc. based on the Zig Zag indicator.
Perhaps you can elaborate on why something that can filter out noise, aid in the visual interpretation of charts, help with Elliot wave counts, identify significant turning points and at the same time is not prohibited from being used in system test and experts, would just be for show and not be of value when used in conjunction with another indicator to select buy and sell points?
IMHO, you are a little too young to be so accepting of authority.
< ggg >
BWDIK
John |
