Zig-Zag Technical Indicator...

This is a discussion on Zig-Zag Technical Indicator... within the Technical Analysis forums, part of the Methods category; Hi guys, Wonder if anyone could help me with a zig zag technical indicator question. I currently use netdania charts ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jan 14, 2012, 5:32pm   #1
 
fxtrader85's Avatar
Joined Feb 2010
Zig-Zag Technical Indicator...

Hi guys,

Wonder if anyone could help me with a zig zag technical indicator question. I currently use netdania charts (Forex @ DailyFX - PowerCharts from DailyFX | Forex Charts) and have been looking into this indicator. It's about static values...I've attached 2 small pics, the first one shows the options on netdania charts (you can only change the %) the second pic contains the questions. Would be SOOOOO grateful if someone could have a quick look and help me out, would be massively appreciated...

Thank you
Attached Thumbnails
zigzagoptions.jpg   zigzagpic.jpg  
__________________
Good trading is not about being right...
...It's about trading right
fxtrader85 is offline   Reply With Quote
Old Jan 14, 2012, 6:08pm   #2
 
Pat494's Avatar
Joined Mar 2004
Re: Zig-Zag Technical Indicator...

The general view is that it is a false indicator and should not be relied upon.
__________________
Imagination is more important than knowledge.
Einstein
Imagination should be used constructively on the firm basis of knowledge.
Me
Pat494 is online now   Reply With Quote
Old Jan 15, 2012, 12:10pm   #3
 
fxtrader85's Avatar
Joined Feb 2010
Re: Zig-Zag Technical Indicator...

fxtrader85 started this thread
Quote:
Originally Posted by Pat494 View Post
The general view is that it is a false indicator and should not be relied upon.
Why Pat?

I've attached another picture which explains my question much better. If anyone else has anything to add it would be appreciated...
Attached Thumbnails
zigzagq.jpg  
__________________
Good trading is not about being right...
...It's about trading right
fxtrader85 is offline   Reply With Quote
Old Jan 15, 2012, 1:14pm   #4
 
Pat494's Avatar
Joined Mar 2004
Re: Zig-Zag Technical Indicator...

1
__________________
Imagination is more important than knowledge.
Einstein
Imagination should be used constructively on the firm basis of knowledge.
Me

Last edited by Pat494; Jan 15, 2012 at 1:20pm.
Pat494 is online now   Reply With Quote
Old Jan 15, 2012, 1:17pm   #5
 
Pat494's Avatar
Joined Mar 2004
Re: Zig-Zag Technical Indicator...

Quote:
Originally Posted by fxtrader85 View Post
Why Pat?

I've attached another picture which explains my question much better. If anyone else has anything to add it would be appreciated...
Someone with a maths background could explain it better.
My understanding is, it will draw in the best lines but only after the event and is therefore generally too slow to bet on.

I suggest you lop off the last 50ish days of data on say eod and manually put each day back in, checking the zigzag line at different frequencies to see what happens as you walk forward.
__________________
Imagination is more important than knowledge.
Einstein
Imagination should be used constructively on the firm basis of knowledge.
Me
Pat494 is online now   Reply With Quote
Old Jan 15, 2012, 4:21pm   #6
Joined Sep 2008
Re: Zig-Zag Technical Indicator...

The zig zag is a repaint indicator and should not be relied upon as a signal. Watch this video:



Peter
wackypete2 is online now   Reply With Quote
Old Jan 16, 2012, 6:17am   #7
Joined Jul 2008
Re: Zig-Zag Technical Indicator...

Quote:
Originally Posted by fxtrader85 View Post
Hi guys,

Wonder if anyone could help me with a zig zag technical indicator question. I currently use netdania charts (Forex @ DailyFX - PowerCharts from DailyFX | Forex Charts) and have been looking into this indicator. It's about static values...I've attached 2 small pics, the first one shows the options on netdania charts (you can only change the %) the second pic contains the questions. Would be SOOOOO grateful if someone could have a quick look and help me out, would be massively appreciated...

Thank you
The answer to your question is yes the zig-zag can change its "stripes". This is due to the fact that it looks into the future and if the future is different from what it expected it changes.
colion is offline   Reply With Quote
Old Jan 17, 2012, 8:01pm   #8
 
fxtrader85's Avatar
Joined Feb 2010
Re: Zig-Zag Technical Indicator...

fxtrader85 started this thread Thanks to everyone who posted back, really appreciate it!

Thought I found the holy grail, what an idiot!!!

Thanks guys
__________________
Good trading is not about being right...
...It's about trading right
fxtrader85 is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Opinion of Site, Technical Indicator speedracer1996 General Trading Chat 0 Oct 12, 2010 6:48pm
Zig Zag question.... Rossini General Trading Chat 6 Aug 21, 2009 7:50am
free Web base technical indicator stock scanning system dojispace Trading Systems 14 Jun 28, 2009 3:35pm
Applying Indicator to another Indicator dima777 Trading Software 18 Feb 13, 2009 7:41am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)