ZigZag Indicator Enhancement

[lonew0lf 10]

I found this useful zigzag indicator off elittrader.com and wanted to know how I would go about adding Fibonacci ratios to each high/low swing. Thoughts and comments welcome.

 

// ZigZag JJs

//

//

// pls post your comments and enhancements here:

//

//

 

inputs:

ATRPeriod(9), //Number of ATR Periods

ATRMulti(2.0), // ATR Multiplier

StrengthSensitivity(2), //Pivot Strength

ShowZigZagLines(True),

ZigZagLineColorUp(black),

ZigZagLineColorDN(black),

ZigZagLineWidth(.1),

ZigZagLineStyle(tool_solid),

ZigZagTextColor(black),

VertOffset1(1),

VertOffset2(2), // Second String on Swing Hi/Lows

DecimalPlaces(2);

 

 

vars:

NewSwingPrice(0),

LastSwingPrice(0),

SwingPrice(High),

SwingDate(Date),

SwingTime(time_s),

TLDir(0), { TLDir = -1 implies prev TL dn, +1 implies prev TL up }

SaveSwing(false),

AddTL(false),

UpdateTL(false),

TLRef(0),

TLSwing(0),

Diff(0),

ArrayMax (17),

ATRPoints(0),

BarDiff(0), TimeDiff(0),

ZigZagCount(0),

x(0);

 

Arrays:

TrendLine[17] (0), DayValue[17] (0), ZigZag[1000,3](0);

 

if CurrentBar = 1 then

begin

for x=0 to ArrayMax { Draw Fib Lines }

begin

if x <= ArrayMax then

begin

 

TrendLine[x] = TL_New_s (Date[1], time_s[1], Low, Date, time_s, Low);

TL_SetExtLeft (TrendLine[x], false);

TL_SetExtRight (TrendLine[x], True);

 

end; // if

 

end; // for

 

end; //if currentbar

 

{ Candidate swings are just-confirmed, 3-bar (Str=1), SwingHi's and SwingLo's }

 

NewSwingPrice = SwingHigh( 1, High, StrengthSensitivity, StrengthSensitivity+1);

ATRPoints = ATRMulti*AvgTrueRange(ATRPeriod) ;

 

if NewSwingPrice <> -1 then

begin

if (TLDir <= 0 and NewSwingPrice >= SwingPrice + ATRPoints) then

 

{ prepare to add new up TL }

 

begin

SaveSwing = true;

AddTL = true;

TLDir = 1;

end

else

if TLDir = 1 and NewSwingPrice >= SwingPrice then { prepare to update prev up TL }

begin

 

SaveSwing = true;

UpdateTL = true;

end;

end

else

 

begin

 

{ NewSwingPrice = SwingLow( 1, Low, 1, 2 ); }

 

NewSwingPrice = SwingLow( 1, Low, StrengthSensitivity, StrengthSensitivity+1);

if NewSwingPrice <> -1 then

begin { prepare to add new dn TL }

 

if TLDir >= 0 and NewSwingPrice <= SwingPrice - ATRPoints then

begin

 

SaveSwing = true;

AddTL = true;

TLDir = -1;

end

else

if TLDir = -1 and NewSwingPrice <= SwingPrice then { prepare to update prev dn TL }

begin

SaveSwing = true;

UpdateTL = true ;

end;

end;

end;

 

 

if SaveSwing then { save new swing and reset SaveSwing }

begin

SwingPrice = NewSwingPrice ;

SwingDate = Date[strengthSensitivity];

SwingTime = time_s[strengthSensitivity];

 

// SaveSwing = false ;

end ;

 

{ add new TL and reset AddTL }

if AddTL then

begin

if ShowZigZagLines then

begin

TLRef = TL_New_s(SwingDate, SwingTime, SwingPrice, SwingDate[1], SwingTime[1],SwingPrice[1]);

TL_SetExtLeft( TLRef, false);

TL_SetExtRight( TLRef, false);

TL_SetSize( TLRef, ZigZagLineWidth);

 

if TLDir = -1 then

TL_SetColor( TLRef, ZigZagLineColorDN)

else

TL_SetColor( TLRef, ZigZagLineColorUp);

 

LastSwingPrice = SwingPrice[1];

end;

 

if (TLDir[1] <> TLDir[2]) then BarDiff = 0

else BarDiff = BarDiff +1;

 

ZigZagCount = ZigZagCount + 1;

ZigZag[ZigZagCount,1] = SwingPrice; // Current Swing Price

ZigZag[ZigZagCount,2] = BarNumber; // BarNum

ZigZag[ZigZagCount,3] = TimetoMinutes(time_s); // Time Var

BarDiff = ZigZag[ZigZagCount,2] - ZigZag[ZigZagCount-1,2];

 

if TLDir = -1 then

Diff = LastSwingPrice - SwingPrice

else

Diff = SwingPrice - LastSwingPrice;

 

TimeDiff = Zigzag[ZigZagcount,3] - Zigzag[ZigZagcount-1,3];

AddTL = false;

end

 

else

 

if UpdateTL then { update prev TL and reset UpdateTL }

begin

if ShowZigZagLines then

TL_SetEnd_s( TLRef, SwingDate, SwingTime, SwingPrice);

 

if (TLDir[1] <> TLDir[2]) then BarDiff = 0

else BarDiff = BarDiff +1;

 

ZigZag[ZigZagCount,1] = SwingPrice; // Current Swing Price

ZigZag[ZigZagCount,2] = BarNumber[1]; // BarNum

ZigZag[ZigZagCount,3] = TimetoMinutes(time_s); // Time Var

 

BarDiff = ZigZag[ZigZagCount,2] - ZigZag[ZigZagCount-1,2];

 

if TLDir = -1 then

Diff = LastSwingPrice - SwingPrice

else

Diff = SwingPrice - LastSwingPrice;

 

TimeDiff = Zigzag[ZigZagcount,3] - Zigzag[ZigZagcount-1,3];

UpdateTL = false;

 

end;

 

 

if SaveSwing then

begin

if TLDir = -1 then

begin

DayValue[0] = Swingprice;

DayValue[1] = LastSwingprice;

 

end

else

begin

DayValue[1] = Swingprice;

DayValue[0] = LastSwingprice;

end;

 

Diff = DayValue[0] - DayValue[1];

 

for x=0 to ArrayMax

begin

if TrendLine[x] > 0 then

begin

 

{ SetEnd before SetBegin }

 

TL_SetEnd_s (TrendLine[x], Date, time_s, DayValue[x]);

TL_SetBegin_s (TrendLine[x], Date, time_s, DayValue[x]);

 

end; // if TrendLine

 

end; // for loop

 

SaveSwing = False;

 

end; // if SaveSwing

[Tams 20]

can you draw a diagram to illustrate what you mean?

[lonew0lf 10]

Tams - it might be easier to show with a couple charts. The arrows are pointing to what i'd like to accomplish off the zigzag swings.

[Tams 20]

Tams - it might be easier to show with a couple charts. The arrows are pointing to what i'd like to accomplish off the zigzag swings.

 

yup, that can easily be done.

 

.

Edited April 1, 2010 by Tams

[Tams 20]

fibo is only a "number".

 

a number is a calculation of some sort.

 

if you can figure out that "sort".... which is no rocket science in this case (fibo=percentage),

 

the next task is to post the number to the turning point.

 

locating that "point" is no big deal either,

because the point is already calculated (the trendline turning point).

 

so all you needed to do is piggyback onto the turning with the fibo number.

 

QED

[tqtrader 10]

Hello,

 

I saw your ZigZac Indicator, and think it is the same I am looking for. I do not know, if it is common to ask, but would you be so kind to send the ZigZag with Fibo to me?

 

"I found this useful zigzag indicator off elittrader.com and wanted to know how I would go about adding Fibonacci ratios to each high/low swing. Thoughts and comments welcome."

 

I started with TradeStation and i have no idea to programm yet. The zigzag in TradeStation has the problem, that it use "close" but not "high or low" to calculate. For me this seems to be different here.

 

I would be happy to hear from you.

 

TQ

[Tams 20]

Hello,

 

I saw your ZigZac Indicator, and think it is the same I am looking for. I do not know, if it is common to ask, but would you be so kind to send the ZigZag with Fibo to me?

 

"I found this useful zigzag indicator off elittrader.com and wanted to know how I would go about adding Fibonacci ratios to each high/low swing. Thoughts and comments welcome."

 

I started with TradeStation and i have no idea to programm yet. The zigzag in TradeStation has the problem, that it use "close" but not "high or low" to calculate. For me this seems to be different here.

 

I would be happy to hear from you.

 

TQ

 

the code is already posted in the thread.

please read.

[tqtrader 10]

Sorry Tams,

 

where can i find such indicators here. I do not know how to search the signle different indicators. I am not very common in programming, therefore i cannot judge, what is in or what the indicator does from the sight of programming.

 

I am looking for people how can programm my ideas. Where can i post my ideas to get hints and help.

 

Thank you very much

TQ