Zig Zag draws lines between low and high points that represent movements greater that the given percentage. The user may change the period lengths, reversal percentage amount, price movements and label options. This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using Zig Zag
No trading signals are calculated for this indicator.
How To Access in MotiveWave
Go to the top menu, choose Study>Overlays>Zig Zag
or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.
Important Disclaimer: The information provided on this page is strictly for informational purposes and is not to be construed as advice or solicitation to buy or sell any security. Please see our Risk Disclosure and Performance Disclaimer Statement.
//high input = price, user defined, default is Midpoint
//low input = price, user defined, default is Midpoint
//reversal percent = user defined, default is 1
//price movements = user defined, default is true
//price labels = user defined, default is true
Code may be available on request.