ZigZag Average

The basic algorithm for this indicator is Zig Zag indicator. Each time a new peak or trough is found, the averaged value are inverted:

if last ZigZag point is a peak: the moving average is calculated with Highs
if last ZigZag point is a trough: the moving average is calculated with Lows

This indicator was coded by a request in the English indicators forum.

//PRC_ZigZag Average | indicator
//30.05.2018
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge

//--- settings 
Percentage = 1 
mmPeriod = 30
//--- end of settings

peak = ZigZag[Percentage](high)
trough = ZigZag[Percentage](low)
if peak<peak[1] and peak[1]>peak[2] then
 last=1
endif
if trough>trough[1] and trough[1]<trough[2] then
 last=-1
endif

if last>0 then
 mm=average[mmPeriod](high)
else
 mm=average[mmPeriod](low)
endif

if mm>mm[1] then
 r=0
 g=128
 b=196
else
 r=255
 g=0
 b=0
endif

return mm coloured(r,g,b) style(line,2)

//PRC_ZigZag Average | indicator

//30.05.2018

//Nicolas @ www.prorealcode.com

//Sharing ProRealTime knowledge

//--- settings

Percentage = 1

mmPeriod = 30

//--- end of settings

peak = ZigZag[Percentage](high)

trough = ZigZag[Percentage](low)

if peak<peak[1] and peak[1]>peak[2] then

last=1

endif

if trough>trough[1] and trough[1]<trough[2] then

last=-1

endif

if last>0 then

mm=average[mmPeriod](high)

else

mm=average[mmPeriod](low)

endif

if mm>mm[1] then

r=0

g=128

b=196

else

r=255

g=0

b=0

endif

return mm coloured(r,g,b) style(line,2)

moving average zigzag

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments :

Filename : download the ITF files

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Forexcheckup • 05/30/2018 #
Thank you vey much for your swift response, hope others find it useful!

Stenozar • 05/30/2018 #
Hi Forexchekup! on which instruments do you use it?

Glen Marquis • 05/30/2018 #
Nice. I like this, are the graphics as pretty when used with market entries?
- Nicolas • 05/30/2018 #
  Because of its natural behavior, the zigzag makes the indicator more pretty in the past as it is in real time.. Using another kind of peaks and troughs detection should make it more accurate and valuable for trading.

eckaw • 05/30/2018 #
I’m trying to make a strategy based on EMA crosses over the ZigZag Average. Is there a way to generate these signals and copy them onto “myIndicator2” and simply print the signals (for example: +1; -1) ? If this is possible, maybe the strategy can be built with myIndicator2, then overcoming the ZigZag issue with auto trading. Any thoughts?
- Nicolas • 05/30/2018 #
  Yes, this could be easily programmed with the assisted creation tool.

Karthick S • 05/30/2018 #
Hi Nicolas,
Can you please share MT4 version of this?
Cheers
- Nicolas • 05/30/2018 #
  No. This website is only dedicated to ProRealTime programming 🙂

lukapex • 05/30/2018 #
Hello, can you please tell me what is the average in mm=average[mmPeriod] ? How is that calculated,based on what?Something like ema,sma or? Thank You!
- Nicolas • 05/30/2018 #
  This is an SMA = Simple Moving Average

rama • 05/30/2018 #
I want to use this indicator in trading system, it says zig zag is obsolete and not supported
- Nicolas • 05/30/2018 #
  Right, due to its repainting behavior, the zigzag is not allowed in automated trading with real transaction.

rama • 05/30/2018 #
I noticed it changes as time progress, I am 7 as the average, how many period it wont change much?

Nicolas You'll need to preload bars to get the good calculations of you indicators. I did not test i...

David Nicolas I tried DEFPARAM Preloadbars = 5000 And still the same drawn output of entries/exit...

marcara Hi, Thank you very much for the Moving Average Daily indicator, I am using it as indicator i...

Nicolas Je l'ai converti depuis un code pinescript. De mémoire il s'agit bien d'une variation d'une ...

Captain_Walker @Nicolas, I've copied your code into PRT indicator panel to create it. When I attempt to sav...

Nicolas Download the itf file and import it.

Nicolas Please post any question on forums, thanks.

Lavallette Bonjour Nicolas. J'utilise la version 11 et moi aussi j'ai une ligne horizontale malgré l'a...

Nicolas il faut modifier la ligne 20 avec: if adaptive=1 and averagePeriod > 1 and barindex>(...

dakaodo Hi, Wilko. Acc to the original FRAMA paper by Ehlers, Ehler's own code only takes inputs for...

dakaodo For reference, here is Ehlers' original paper: http://www.mesasoftware.com/papers/FRAMA.p...

dakaodo Here is the code with only SC included, per ETFHQ. pri=customclose //len>=4, even on...

Nicolas The code is correct, don't know if the label and color are the same as other trading softwar...

peppe novellino Hi Nicolas, the settings of the alligators are not editable. How can I change it? Thanks in ...

pabo_swe I got very bad performance with this script, it was slow... it seems like if one breaks out ...

Nicolas Thank you for contribution. Please consider that advertising is tolerate as long as you cont...

triss1965@gmail.com Hi, I cant make it work. And if you doing so much money. Why do you have to sell it? It don...

T-rader Eva... He dosen´t sell anything. He is just a nice guy that want to share on of his strategy...

Nicolas add it on price chart, change the cp parameter according to the period you want to observe f...

Robert22 hola buenos días: yo estoy buscando una cosa parecida para realizar con ello un indicador de...

Nicolas https://www.prorealcode.com/prorealtime-indicators/rsi-classical-hidden-divergences-indicator/

Fabio Anthony Terrenzio this strategy works only in a well defined trend

brosly Good afternoon I am trying to get the complete code of lex strategy made by adolfo since I s...

dreif123 hi Adolfo, is Alex Auto Trading Botindex working on DAX as well ? if so , can you post the...

phili711 Bonjour Si la moyenne 100 est au dessus de la moyenne 20 le trend est baissier zlors pourqu...

Nicolas La comparaison se fait entre la valeur de la moyenne actuelle et telle qu'elle était il y a ...

Thomas007 we should definitely open a new thread for intraday trading - can we post the link once it's...

Lotech123 This Indicator is very useful if the Risk number is altered to suit the time frame, volume o...

Bern error displaying, code must end with RETURN. Any idea hot to fix it?

j102491 how are you applying it to asc trend

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