zigzag

Function Name: zigzag

Tags: None

Category: Swing

A trend following indicator that is used to predict when a given security's momentum is reversing. The indicator is used by traders to eliminate random price fluctuations and attempts to profit when the trend changes. The Zig Zag tool is often used in wave analysis to determine the positioning of the stock in the overall cycle. Like many trend following indicators, the disadvantage is that the result is based off past price history and doesn't change direction until a certain move occurs. Given the lag, many traders will want to use the Zig Zag indicator to confirm the direction of the trend rather than timing an entry/exit.

 

Parameters:

 

Sensitivity - Minimum relative difference (given in percentage) between consecutive turnpoints on the zigzag line.

 

Link: http://www.investopedia.com/terms/z/zig_zag_indicator.asp

 

Sensitivity
	Default Value: 7  |  Minimum: 0  |  Maximum: 100
	Type: Numeric
ShowLine
	Default Value: -1
	Type: Boolean
ShowTraderMark
	Default Value: 0
	Type: Boolean
ShowTraderBar
	Default Value: 0
	Type: Boolean