Most accurate ZigZag indicator?

Quoting dkrock

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This is the one I use, though it is not a signal. It has just been part of my template for years. It is a slimmed down version of 3 Level ZZ so easy on computer resources. {file}{file}

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Quoting dkrock

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{quote} Outside bars sounds like candlestick trading, something I also would never recommend since it is different for every time frame. I studied it a little bit years ago and have several indicators that do candlestick pattern recognition. I think it is too hocus-pocus to actually risk any money on it, but if I can find those indicators I will post them.

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Quoting hanover

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From what I once read, the original Zigzag indy was developed by a programmer who worked for MetaQuotes. Its construction is quite complex (probably dissuading 'hobby' programmers from modifying it) and all of the variations I've seen (ZZ semafor, II SupDem, etc) simply retain the original construction calculations. Hence I think it's unlikely that you'll find a 'more accurate' version, unless some of the ex-MQ coders have taken its development further. Regarding 'accuracy', you can get ZZ to plot larger or smaller swings by changing its Depth,...

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Quoting dkrock

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Here is a current pic of the EURUSD 1HR chart with the zz I initially sent. I don't really know what you mean by an outside bar because I do not trade candlesticks, so those terms don't mean anything to me, but it looks to me like a lot of signals. I think there is one that gives popup and sound alerts in one of those packages. It can be annoying though, lol, because it will go off a lot, but if you want to trade zigzag, you might find it convenient. {image}

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Quoting dkrock

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{quote} Again, pretty sure it is the same signal, just doesn't have the line in the way. You should add it to your chart on top of your other one and compare. By having numbers you can gauge the strength of the top/bottom.

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Quoting dkrock

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{quote} Do you need MTF zigzag indicators? I think I have some.

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Quoting Nicholishen

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I'm on the search for the most accurate zigzag indicator. So far the best I've been able to find is the "professional zigzag" indicator written by Aleksandr Chugunov. This was originally developed for MT5, but I back-ported and compiled it for MT4 (attached). I would appreciate if anyone has any other suggestions. {file} {file} {file}

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Quoting Nicholishen

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{quote} No, I'm talking about the correct order in which to process the High and Low of an outside bar. Most ZZ algos process this way. {image} This is how it should be processed. {image} From the article here. https://www.mql5.com/en/code/263

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Quoting pips4life

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Hi Nicholishen, I too am searching for a better zigzag, for the main purpose of using the past pivots to draw useful objects, like Pitchforks, Fibos, channels, etc. I'm looking for an algorithm that: * detects engulfing bars and counts both the H/L as pivots (and determine the order H-L or L-H) (I see that the ProfessionalZigZag does so, and that's an improvement over zigzag). * I'm also interested in capturing fast, but "high" percentage retracement moves, in addition to the time-based zigzags. In other words, a swing could be determined by #bars,...

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#include <Indicators\ProZigZag.mqh>
CProZigZag ziggy1,ziggy2,ziggy3;
//+------------------------------------------------------------------+
//| Expert initialization function                                   |
//+------------------------------------------------------------------+
int OnInit()
  {
//---
   ulong micro = GetMicrosecondCount();
 
   ziggy1.Create(_Symbol,(ENUM_TIMEFRAMES)PERIOD_M15,12);
   ziggy1.BufferResize(10);
   ziggy1.DrawOnChart(true);
   ziggy2.Create(_Symbol,(ENUM_TIMEFRAMES)PERIOD_M5,12);
   ziggy2.BufferResize(10);
   ziggy2.DrawOnChart(true);
   ziggy3.Create(_Symbol,(ENUM_TIMEFRAMES)PERIOD_M1,12);
   ziggy3.BufferResize(10);
   ziggy3.DrawOnChart(true);
   
   Comment("Initialization took... ",GetMicrosecondCount() - micro," micro-seconds.");
//---
   return(INIT_SUCCEEDED);
  }
//+------------------------------------------------------------------+
//| Expert deinitialization function                                 |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
  {
//---
   
  }
//+------------------------------------------------------------------+
//| Expert tick function                                             |
//+------------------------------------------------------------------+
void OnTick()
  {
//---
   ulong micro = GetMicrosecondCount();
   ziggy1.Refresh();
   ziggy2.Refresh();
   ziggy3.Refresh();
   Comment("Refreshing Indicators... ",GetMicrosecondCount() - micro," micro-seconds.");
  }
//+------------------------------------------------------------------+

Quoting poruchik

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I like ZZ Talex {file}

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Quoting Nicholishen

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{quote} I like the code simplicity, but unfortunately it is inaccurate {image}

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Quoting HumbleLearne

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{quote} Dear Nicholishen , Do you have any stratagy trading on zigzag indicators please because all are in the calogary of lagging indicators can you also please check if there are any coding issues with the above posted indicators which i have posted especially ZIGZAG+ , ZIGZAG WITH LINES AT LOWS AND LINE AT HIGH & ZIGZAG LUCK please . Thank You Best Regards

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Quoting Nicholishen

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{quote} I only need the data points (extrema) from the zigzag buffers - so in those regards I'm not at all interested in aesthetics. These are what I would consider to be the minimum requirement for "accurate" calculations. Two separate buffers, one for each side of the swing in case the bar is an outside bar (engulfing) A method to process engulfing bars. Only recalc the last leg Working ability to change the minimum point deviation. Doesn't have random mistakes (very common to ZZ)

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