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zLastSwingPoint % by Spyros Raftopoulos
Message: 6
Date: Wed, 29 May 2002 14:39:57 -0700
From: "nct" <nct@sonic.net>
Subject: ZigZag Validity SR

So far I've been impressed by the updated signal this indicator (by Spyros) is giving and have seen no disappearing signals.

I do have a question however. Even to contemplate using the signal as is to trade (which no one has yet recommended of course), one would need certain knowledge of the stop loss point. Please take the QQQ as an example with a 16% setting.

There was a confirmed buy signal with the close of 34.7 on 10/10/01 There was a high of 43.24 on 12/6/01. There was a close of 35.19 on 2/7/02 and a confirmed sell signal (the close being about 16% off the high of the move) Since then there has been a low of 28.42 on 5/7/02 Yet there was no confirmed buy on 5/15 or 5/16/02 when the close of 32.8 was more than 16% above the low ebb of the move.

I'm not saying its a flaw. And I understand that the answer to the question "how is it calculated" is in the formula! Darn it I just can't figure out what the next covering price for QQQ would be for this signal. Can someone make a companion signal that would produce the next signal price as of any given day and data? Would this be useful to others with interest in this signal?

Nct,

My new indicator is called SR ZigZag Trend. ZigZag validity is an older indicator which does not deal with direction.
I am trading Greek stocks and so I don't have the data necessary to check the indicator's behaviour for QQQ. But let me see what your point is. Are you saying that since last trough there has been a change of 16% in closing prices and the 10% indicator has not turned up?

What percentage did you use for the SR ZigZag Trend indicator? And are you using this indicator or ZigZag validity? My advice is to use the new indicator as this shows the direction and it seems to be always valid. If you want to check the reversal amount since each swing point here is an indicator you can use.

Drop SR zLastSwingPoint % and SR ZigZag Trend 10% and Zigzag 10% on the chart. Ensure that they all have the same sensitivity (10%). Then observe the points where SR ZigZag Trend changes. One bar before the change SR zLastSwingPoint % must read >-10 or <10. On the next bar SR zLastSwingPoint % must read <= -10 or >=10. Check this and tell me if it is true or not.

Spyros


zLastSwingPoint %

{percent since last swing point}
perc:=Input("Percent",0.2,100,10);
Z:=Zig(C,perc,%);

last:=ValueWhen(1,
( Z > Ref(Z,-1) AND Ref(Z,-1) < Ref(Z,-2) )
OR
( Z < Ref(Z,-1) AND Ref(Z,-1) > Ref(Z,-2) ),
Ref(Z,-1));
pc:=(C-last) * 100 / last;
pc

 

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