Marking of redrawing indicators

• 11/28/2022 at 4:25 PM #204954
  marlow2017

  I understand that the ZigZag indicator redraws, however I wonder if it might still be useful in situations where there is support/resistance (such as a downtrend channel) when one is expecting a turning point near a certain level.

  In order to examine this it would be useful to mark the points where the ZigZag turned and then corrected continuing as before.

  Is it possible that someone could show the code to do this please, if possible?

  It then might also be useful code for users to adapt and apply to other such redrawing indicators.

  

  marlow2017

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  11/29/2022 at 10:15 AM #204997
  Nicolas

  marlow2017 wrote:

  where the ZigZag turned and then corrected continuing as before

  It could be done only during live data stream, not in history with the zigzag instruction.

  Let’s try with this code:

  zz = ZigZagPoint[10](close) if zz<>$zz[0] then $zz[0]=zz endif return $zz[0]

  1 2 3 4 5 6 7

  zz = ZigZagPoint[10](close)   if zz<>$zz[0] then $zz[0]=zz endif   return $zz[0]

  In yellow zigzag real time (code started running on the vertical line), and white line is the zigzag indicator that repaint.

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  marlow2017

  

  Nicolas

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  11/29/2022 at 2:36 PM #205021
  marlow2017

  The white line does show where the ZigZag will end on that candle’s close, but not where it has changed direction (upward versus downward slope, with corrections).

  I was hoping that the program might allow a current value could be noted on the chart with a mark at the end of that timeframe, and then not move – even if the indicator’s mathematics altered the position on another day. This might then be of some help with any other indicators that redraw.

  It does look as though I will need to limit this to a few instruments and draw in by hand, but thank you for trying Nicolas. Much appreciated.

  

  marlow2017

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