I am trying to work out how the ZigZag function works,
3 inputs:
InpDepth
InpDeviation
InpBackstep
InpBackstep is how many bars back do you look before triggering a new zigzag.
If you put in 3, then 3 bars need to go by before the program prints a potential new zigzag, etc.
The other 2 fields are a mystery, even though I have looked at the code.
(I have looked at Investopedia and Stackexchange as well!)
I guess the InpDeviation relates to how much the market should move to trigger a zigzag, as opposed to continue the existing one.
I dont get the "percentage" bit.
Percentage of what?
Percentage of previous zigzag?
Percentage of total price? (eg. 3% of 1.2000)
I am also guessing ZigZag is a proxy for Renko bricks or Point and Figure.
I do hope so, as my charts get screwed when I use Renko and PnF. (not to mention the CPU usage)
I was hoping Zigzag was a short-cut for Renko or PnF.
How does InpDeviation and InpDepth work? What do they mean?
Thanks.
3 inputs:
InpDepth
InpDeviation
InpBackstep
InpBackstep is how many bars back do you look before triggering a new zigzag.
If you put in 3, then 3 bars need to go by before the program prints a potential new zigzag, etc.
The other 2 fields are a mystery, even though I have looked at the code.
(I have looked at Investopedia and Stackexchange as well!)
I guess the InpDeviation relates to how much the market should move to trigger a zigzag, as opposed to continue the existing one.
I dont get the "percentage" bit.
Percentage of what?
Percentage of previous zigzag?
Percentage of total price? (eg. 3% of 1.2000)
I am also guessing ZigZag is a proxy for Renko bricks or Point and Figure.
I do hope so, as my charts get screwed when I use Renko and PnF. (not to mention the CPU usage)
I was hoping Zigzag was a short-cut for Renko or PnF.
How does InpDeviation and InpDepth work? What do they mean?
Thanks.