My help is in the name of the Lord who made heaven and earth.
- #7
- Sep 8, 2016 10:54am Sep 8, 2016 10:54am
- Joined Jul 2015 | Status: Trader | 2,299 Posts
Things to note about the zigzag indicator::: 1: It repaints because -by definition - it has to. Therefore, the length of a leg can increase with time! 2: It is possible to know where a leg of the ZZ must be drawn - relative to another indicator. So, those who say it is impossible to determine where/when a new leg will be drawn are a little behind time! 3: ZZ is directly connected to the stoch indicator and there is a way to know how far price will retrace, using both indicators. 4: The ZZ is time-dependent. It is possible to know When a leg will...
Questions from a noob coming your way and if you could answer them it would be great.
1. "Consider stoch with the following settings; %k =X, slowing = 1, %d = 1, Close/Close, where X is any positive integer."
How is the value of X related to Zig-Zag?
2. When you say 0/100 do you mean stoch is at 0 and when you say 100/0 do you mean stoch is at 100?
3. "Therefore, the ZZ repaints because the stoch repaints. (That is the stoch above can stay at 0/100 for a while or leave 0/100 and return there without first going to 100/0.)"
The stoch can stay at oversold and overbought levels for quite a while. Could you please elaborate on the underlined portion if possible with an example.
Once again thank you for the system kind sir.
{quote} Thanks Albert for the system, Questions from a noob coming your way and if you could answer them it would be great.
1.X is any integer say 30 for the stock......... Zig zag should be 30, then they are similar and directly related.
2. Yes
3.Okay, lets say the stock is at 100 now, so long as it remains there without closing at 0, you may keep having the zigzag leg making newer Highs.... but when the stock closes at 0 we expect a new ZZ leg to appear low and probably continue going low if the stock keeps closing at 0 without going to 100.
I hope it helps.
My help is in the name of the Lord who made heaven and earth.
- #11
- Sep 8, 2016 12:25pm Sep 8, 2016 12:25pm
- Joined Jul 2015 | Status: Trader | 2,299 Posts
{quote} Hi Aaven, 1.X is any integer say 30 for the stock......... Zig zag should be 30, then they are similar and directly related. 2. Yes 3.Okay, lets say the stock is at 100 now, so long as it remains there without closing at 0, you may keep having the zigzag leg making newer Highs.... but when the stock closes at 0 we expect a new ZZ leg to appear low and probably continue going low if the stock keeps closing at 0 without going to 100. I hope it helps.
I appreciate you for taking the time to answer my queries.
One doubt though,
Zigzag setting: 25,1,1 and Stock:18,1,1 close/close. Default settings for parabolic.
To have direct relation the Zig-Zag and Stoch needs to have the same value, isn't it? Here Zig-Zag is 25 and Stoch is 18.
Kindly help me to understand.
Once again thanks a bunch for starting the thread and taking the time and effort to help the people.
Have a glorious day.
{quote} Hello Albert, I appreciate you for taking the time to answer my queries. One doubt though, Zigzag setting: 25,1,1 and Stock:18,1,1 close/close. Default settings for parabolic. To have direct relation the Zig-Zag and Stoch needs to have the same value, isn't it? Here Zig-Zag is 25 and Stoch is 18. Kindly help me to understand. Once again thanks a bunch for starting the thread and taking the time and effort to help the people.
The ZZ and Stock having the same value will give a direct relation with a win rate of about ++90% as stated in previous posts. However my settings give more entries but exposes you to more fake setups. My settings only reduce the probability slightly but its good enough.
Regards
Al
My help is in the name of the Lord who made heaven and earth.
- #13
- Sep 8, 2016 1:52pm Sep 8, 2016 1:52pm
- Joined Jul 2015 | Status: Trader | 2,299 Posts
Thanks Albert for the quick reply. Will study in detail and seek your guidance for further doubts. 
Thanks once again for your generosity.
Thanks once again for your generosity.
Thanks Albert for the quick reply. Will study in detail and seek your guidance for further doubts.
Al
My help is in the name of the Lord who made heaven and earth.
