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- 23 Eki 2020
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It is based on the SR ZigZag Trend indicator. It is actually a sum of 5 fixed-amount SR ZigZag Trend indicators (I have suggested 3%, 5%, 10%, 15% and 20% but these values can be changed to suit the user's preferences.) This indicator is quite suitable for Experts since it shows the strength of the trend. Such an Expert with Highlights and a simple Commentary is also provided below. This indicator is the sum of 5 fixed-amount SR Zigzag Trends (SR ZZTs) and it shows the strength of a trend. Make 5 fixed amount indicators called "SR ZZT1", "SR ZZT2", ..."SR ZZT5" that use different reversal amounts. I had suggested 3%, 5%, 10%, 15% and 20% respectively, but one can use Fibonacci numbers instead: 3, 5, 8, 13, 21 or try other values. Some users complained that they don't see anything displayed in their charts. If this happens, use lower numbers for the reversal amounts and/or increase the number of periods displayed in your chart. The code for each one of the SR ZZTs is this: |
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SR ZZT1 {******************** Start of code **********************} {SR ZZT1} amnt:=3; {This is different for each of the 5 indicators} { Don't change anything below this line unless you know what you are doing} md:=1; vr:=CLOSE; zz0:=If(md=1, Zig(vr,amnt,%), Zig(vr,amnt,$)); zz1:=Ref(zz0,-1); zz2:=Ref(zz0,-2); tr:=ValueWhen(1,zz0>zz1 AND zz1<zz2, zz1); pk:=ValueWhen(1,zz0<zz1 AND zz1>zz2, zz1); PU:=If(md=1,tr+Abs(tr)*amnt/100,tr+amnt); PD:=If(md=1,pk-Abs(pk)*amnt/100,pk-amnt); res:=If(vr>=PU AND zz0>zz1,1, If(vr<=PD AND zz0<zz1,-1,0)); res:=If(res<>0,res,ValueWhen(1,res<>0,res)); res {********************* End of code *********************} |
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SR ZZT2 {******************** Start of code **********************} {SR ZZT1} amnt:=5; {This is different for each of the 5 indicators} { Don't change anything below this line unless you know what you are doing} md:=1; vr:=CLOSE; zz0:=If(md=1, Zig(vr,amnt,%), Zig(vr,amnt,$)); zz1:=Ref(zz0,-1); zz2:=Ref(zz0,-2); tr:=ValueWhen(1,zz0>zz1 AND zz1<zz2, zz1); pk:=ValueWhen(1,zz0<zz1 AND zz1>zz2, zz1); PU:=If(md=1,tr+Abs(tr)*amnt/100,tr+amnt); PD:=If(md=1,pk-Abs(pk)*amnt/100,pk-amnt); res:=If(vr>=PU AND zz0>zz1,1, If(vr<=PD AND zz0<zz1,-1,0)); res:=If(res<>0,res,ValueWhen(1,res<>0,res)); res {********************* End of code *********************} |
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SR ZZT3 {******************** Start of code **********************} {SR ZZT1} amnt:=10; {This is different for each of the 5 indicators} { Don't change anything below this line unless you know what you are doing} md:=1; vr:=CLOSE; zz0:=If(md=1, Zig(vr,amnt,%), Zig(vr,amnt,$)); zz1:=Ref(zz0,-1); zz2:=Ref(zz0,-2); tr:=ValueWhen(1,zz0>zz1 AND zz1<zz2, zz1); pk:=ValueWhen(1,zz0<zz1 AND zz1>zz2, zz1); PU:=If(md=1,tr+Abs(tr)*amnt/100,tr+amnt); PD:=If(md=1,pk-Abs(pk)*amnt/100,pk-amnt); res:=If(vr>=PU AND zz0>zz1,1, If(vr<=PD AND zz0<zz1,-1,0)); res:=If(res<>0,res,ValueWhen(1,res<>0,res)); res {********************* End of code *********************} |
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SR ZZT4 {******************** Start of code **********************} {SR ZZT1} amnt:=15; {This is different for each of the 5 indicators} { Don't change anything below this line unless you know what you are doing} md:=1; vr:=CLOSE; zz0:=If(md=1, Zig(vr,amnt,%), Zig(vr,amnt,$)); zz1:=Ref(zz0,-1); zz2:=Ref(zz0,-2); tr:=ValueWhen(1,zz0>zz1 AND zz1<zz2, zz1); pk:=ValueWhen(1,zz0<zz1 AND zz1>zz2, zz1); PU:=If(md=1,tr+Abs(tr)*amnt/100,tr+amnt); PD:=If(md=1,pk-Abs(pk)*amnt/100,pk-amnt); res:=If(vr>=PU AND zz0>zz1,1, If(vr<=PD AND zz0<zz1,-1,0)); res:=If(res<>0,res,ValueWhen(1,res<>0,res)); res {********************* End of code *********************} |
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SR ZZT5 {******************** Start of code **********************} {SR ZZT1} amnt:=20; {This is different for each of the 5 indicators} { Don't change anything below this line unless you know what you are doing} md:=1; vr:=CLOSE; zz0:=If(md=1, Zig(vr,amnt,%), Zig(vr,amnt,$)); zz1:=Ref(zz0,-1); zz2:=Ref(zz0,-2); tr:=ValueWhen(1,zz0>zz1 AND zz1<zz2, zz1); pk:=ValueWhen(1,zz0<zz1 AND zz1>zz2, zz1); PU:=If(md=1,tr+Abs(tr)*amnt/100,tr+amnt); PD:=If(md=1,pk-Abs(pk)*amnt/100,pk-amnt); res:=If(vr>=PU AND zz0>zz1,1, If(vr<=PD AND zz0<zz1,-1,0)); res:=If(res<>0,res,ValueWhen(1,res<>0,res)); res {********************* End of code *********************} |
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This was the code for SR ZZT1. After you have created it, make a copy of it, name it "SR ZZT2" and change the reversal amount to read amnt:=5; Leave the rest of the code as it is. Make subsequent copies, each time using a different amount, until you have made all 5 SR ZZTs. After you've done that, create the SR ZZTsum indicator: |
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ZigZag Trend Sum {***********************Start of code ***********************} {SR ZZTsum} Fml("SR ZZT1") + Fml("SR ZZT2") + Fml("SR ZZT3") + Fml("SR ZZT4") + Fml("SR ZZT5") {*********************** End of code *********************} |
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