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Program 36 | Zig zag turning point predictor using price moves

See advanced version below.

In program 29 we attempted to predict future zig zag turning points by averaging the number of bars between zig zags. The program worked by calculating and storing the number of bars within each horizontal zig zag move. Up zig zag and down zig zag moves are stored in separate vectors. In the case of up moves, it then averaged the last up move in terms of the number of bars over which they took place (the number depends on the user input: NumZigZagsInVector, so, for example, if NumZigZagsInVector were set to 1, only the last up move would be used. If it were set to 2 the last two up moves would be averaged.) Then, when a new bottom zig zag pivot is confirmed this average is added to the bar number of the bottom zig zag pivot and the result stored in an array of potential bars where potential zig zag bottom pivots may occur. This vector was read every bar to see if the current bar is stored in it. If it is, a vertical line is drawn on the chart.

Program 36 applied to a 3 minute @YM chart. The numbers represent the price difference between zig zag turning points

Program 36 is similar to program 29 except that instead of counting the bars between zig zag turning points it calculates the price moves between zig zag turning points. It then averages the moves based on the NumZigZagsInVector input. Once an upper zig zag pivot is confirmed the average of down moves is subtracted from the high zig zag pivot value and is drawn on the chart until a new upward zig zag begins. Similarly, once a low zig zag is confirmed the average of up moves is added to the low zig zag pivot value and is drawn on the chart until a new downward zig zag begins.

The UNPROTECTED program (i.e. TradeStation EasyLanguage show me study) DEVELOPED IN VERSION 9.0 of TradeStation is available for immediate download for $44.95. As well as the TradeStation ELD file I am including a text version in the download. Click the ‘add to cart’ button to pay using Credit card or PayPal. Gold Pass members are eligible for 20% off this price when they type in their special discount code (see //markplex.com/gold-pass-content/ to get the latest code). Also, see the advanced version below.

Additional functionality

Program 36 applied to a daily GBPUSD chart.

Program 36 also includes the functionality to calculate zig-zag patterns and calculate 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 program also 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 that the ‘matching’ zig zag lengths have occurred.

User inputs

_Program36

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( Cyan ), // Color of up zig zag line
ZigZagColDn( Magenta ), // Color of up zig zag line
ColorOfText( Lightgray ), // Color of number label
TopLine( Red ), // Color of lines projected from bottom zig zag turning points
BottomLine( Green ), // Color of lines projected from top zig zag turning points
LineThickness( 3 ), // Thickness of line if new zig zag is within Tolerance of previous zig zag in same direction
NumZigZagsInVector( 3 ); // The number of zig zags that will be used to average the zig zag price move6

The UNPROTECTED program (i.e. TradeStation EasyLanguage show me study) DEVELOPED IN VERSION 9.0 of TradeStation is available for immediate download for $44.95. As well as the TradeStation ELD file I am including a text version in the download. Click the ‘add to cart’ button to pay using Credit card or PayPal. Gold Pass members are eligible for 20% off this price when they type in their special discount code (see //markplex.com/gold-pass-content/ to get the latest code). Also, see the advanced version below.

Video demonstration of program 36

The UNPROTECTED program (i.e. TradeStation EasyLanguage show me study) DEVELOPED IN VERSION 9.0 of TradeStation is available for immediate download for $44.95. As well as the TradeStation ELD file I am including a text version in the download. Click the ‘add to cart’ button to pay using Credit card or PayPal. Gold Pass members are eligible for 20% off this price when they type in their special discount code (see //markplex.com/gold-pass-content/ to get the latest code). Also, see the advanced version below.


Program 36 advanced version

_Program36 ADV applied to a 3 minute @YM chart.

_Program36 ADV is similar to program 36 except that in addition to calculating the average of the price moves stored in the vector, it also calculates and draws the minimum and maximum price moves stored in the vector.

The inputs are also slightly different. I have put the changed inputs in bold:

Inputs for  _Program36 ADV

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( Cyan ), // Color of up zig zag line
ZigZagColDn( Magenta ), // Color of up zig zag line
ColorOfText( Lightgray ), // Color of number label
TopLineAvg( Red ), // Color of lines projected from bottom zig zag turning points
TopLineMax( Magenta ), // Color of lines projected from bottom zig zag turning points
TopLineMin( DarkRed ), // Color of lines projected from bottom zig zag turning points
BottomLineAvg( Green ), // Color of lines projected from top zig zag turning points
BottomLineMax( Cyan ), // Color of lines projected from top zig zag turning points
BottomLineMin( DarkGreen ), // Color of lines projected from top zig zag turning points
LineThickness( 3 ), // Thickness of line if new zig zag is within Tolerance of previous zig zag in same direction
NumZigZagsInVector( 3 ); // The number of zig zags that will be used to average the zig zag price move

Notice the new inputs relating to the colors of the horizontal lines. I demonstrate these in the short video below:

Program 36 advanced version video


Program 36 (advanced version), DEVELOPED IN VERSION 9.0 of TradeStation, is available for immediate download for $54.95. As well as the TradeStation ELD file I am including a text version in the download. Click the ‘add to cart’ button to pay using Credit card or PayPal. Gold Pass members are eligible for 20% off this price when they type in their special discount code (see //markplex.com/gold-pass-content/ to get the latest code).

Advanced bundle

If you would like to download  a ‘bundle’ that includes program 29, program 36 and program 36 ADV, I have created a discounted bundle available for immediate download for $84.95. Click the ‘add to cart’ button to pay using Credit card or PayPal. Gold Pass members are eligible for 20% off this price when they type in their special discount code (see //markplex.com/gold-pass-content/ to get the latest code).

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