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ZigZag

I'd like to use ZigZag(x%) in a scan. It's available as an overlay but not as a scannable element. Has anyone developed this ........ either in a SC scan or just with the basic math?

Thx

Comments

  • markdmarkd mod
    edited June 22
    You don't say how you would use the scan - I suppose for minimum moves from some peak or low, or maybe breakouts up or down. In any case, you are right that there is no zig zag scan.

    Maybe you could approximate what you are trying to do with with max( ) and min( ) functions to get the highest or lowest price in some time period, and determine whether price had risen or dropped some per cent since that price. Or, you could try price channels for breakouts.

    Often there is more than one way to approach a scan, so you may be able to reframe what you want to do in terms of other indicators or overlays that are available.
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