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Program 26 | Zig zag repeated change

Program 26 is a TradeStation showme study created in TradeStation 9.0 that calculates zig-zag patterns and calculates the difference between each high and the next low, and the difference between each low and the next high. The values are ‘drawn’ on the chart to the appropriate number of decimal places. The user can change the color of the zig zag lines and the text. The inputs are shown below.

Program 26 applied to a 15 minute @ES chart

In addition, the program compares each downward zig zag with the previous downward zig zag. If the new downward zig zag is within a user defined tolerance of the previous downward zig zag, the thickness of the current downward zig zag is increased to a user defined value. Similarly, if the new upward zig zag is within a user defined tolerance of the previous upward zig zag, the thickness of the current upward zig zag is increased to a user defined value. This provides a visual cue the ‘matching’ zig zag lengths have occurred. In the example shown, the Tolerance is set to 10 (i.e. 10 percent).

Inputs

RetracePerc( 0.2 ), // Percentage above running pivot that pivot must be formed to start a new zig zag
Tolerance( 10 ), // Percentage tolerance calculating a range above and below last change
ZigZagColUp( DarkCyan ), // Color of up zig zag line
ZigZagColDn( DarkMagenta ), // Color of up zig zag line
ColorOfText( Darkgray ), // Color of number label
LineThickness( 3 ); // Thickness of line if new zig zag is within Tolerance of previous zig zag in same direction

This UNPROTECTED program (i.e. the TradeStation EasyLanguage show me study) is available for immediate download for $59.95 by clicking the ‘add to cart’ button to pay using Credit card or PayPal. The download includes a version of the program in plain text format as well as the TradeStation ELD.

The programs were developed in TradeStation 9.0 and work on intraday, daily, weekly, and monthly charts and is compatible with version 9.5, 10.0 and future versions. Program 26 is also MultiCharts compatible. The show me study may be applied to tick charts, but the pattern text may not display correctly due to an EasyLanguage drawing tool limitations.

Video demonstration of program 26

TO THE BEST OF MARKPLEX CORPORATION’S KNOWLEDGE, ALL OF THE INFORMATION ON THIS PAGE IS CORRECT, AND IT IS PROVIDED IN THE HOPE THAT IT WILL BE USEFUL. HOWEVER, MARKPLEX CORPORATION ASSUMES NO LIABILITY FOR ANY DAMAGES, DIRECT OR OTHERWISE, RESULTING FROM THE USE OF THIS INFORMATION AND/OR PROGRAM(S) DESCRIBED, AND NO WARRANTY IS MADE REGARDING ITS ACCURACY OR COMPLETENESS. USE OF THIS INFORMATION AND/OR PROGRAMS DESCRIBED IS AT YOUR OWN RISK.

ANY EASYLANGUAGE OR POWERLANGUAGE TRADING STRATEGIES, SIGNALS, STUDIES, INDICATORS, SHOWME STUDIES, PAINTBAR STUDIES, PROBABILITYMAP STUDIES, ACTIVITYBAR STUDIES, FUNCTIONS (AND PARTS THEREOF) AND ASSOCIATED TECHNIQUES REFERRED TO, INCLUDED IN OR ATTACHED TO THIS TUTORIAL OR PROGRAM DESCRIPTION ARE EXAMPLES ONLY, AND HAVE BEEN INCLUDED SOLELY FOR EDUCATIONAL PURPOSES. MARKPLEX CORPORATION. DOES NOT RECOMMEND THAT YOU USE ANY SUCH TRADING STRATEGIES, SIGNALS, STUDIES, INDICATORS, SHOWME STUDIES, PAINTBAR STUDIES, PROBABILITYMAP STUDIES, ACTIVITYBAR STUDIES, FUNCTIONS (OR ANY PARTS THEREOF) OR TECHNIQUES. THE USE OF ANY SUCH TRADING STRATEGIES, SIGNALS, STUDIES, INDICATORS, SHOWME STUDIES, PAINTBAR STUDIES, PROBABILITYMAP STUDIES, ACTIVITYBAR STUDIES, FUNCTIONS AND TECHNIQUES DOES NOT GUARANTEE THAT YOU WILL MAKE PROFITS, INCREASE PROFITS, OR MINIMIZE LOSSES.

This UNPROTECTED program (i.e. the TradeStation EasyLanguage show me study) is available for immediate download for $59.95 by clicking the ‘add to cart’ button to pay using Credit card or PayPal. The download includes a version of the program in plain text format as well as the TradeStation ELD.

The programs were developed in TradeStation 9.0 and work on intraday, daily, weekly, and monthly charts. The show me study may be applied to tick charts, but the pattern text may not display correctly due to an EasyLanguage drawing tool limitations.