Universal ZigZag Channel

Hi,

As you know that there are a lot of kinds of ZigZags and ZigZag's strategies. But not all of you know that the ZigZag itself has 2 channels: outside and inside. The outside channel can be used as stop loss levels and as profit targets, the inside channel - as trailing stop and for precise entries.
So please take a look at the advanced MTF UniZigZagChannel_v1.5 which has both channels plus Buy/Sell signals with advanced Box alerts.
Also you can apply 4 methods to build ZigZag by using 3 parameters ReversalValue, RetraceMethod and ATRperiod:

• periodic (eg. ReversalValue=12, RetraceMethod=0)
• percent (eg. ReversalValue=0.5, RetraceMethod=1)
• in pips (eg. ReversalValue=20, RetraceMethod=2)
• ATR's multiplier (eg. ReversalValue=3, RetraceMethod=3,ATRperiod=50)

Regards,
Igor

Yes, it is interesting kind of zigzag.
Thanks Igorad

This is the other screenshot for this indiocator:

I am trying to understand how to use it in trading ...

This is percent zigzag:

Dear Igor

Is it possible to add Center line in Inside Channel ?
Center line = Inside Channel High + Low/2 (shown in picture)

Thanks

Originally Posted by secretcode

Dear Igor

Is it possible to add Center line in Inside Channel ?
Center line = Inside Channel High + Low/2 (shown in picture)

Thanks

Hi secretcode,

Sorry but there is no possibility to plot a middle of the channel because all 8 external buffers are already used.

Regards,
Igor

Originally Posted by igorad

Hi secretcode,

Sorry but there is no possibility to plot a middle of the channel because all 8 external buffers are already used.

Regards,
Igor

OK, Thanks Igor for kind explanation

Best Regards
secretcode

I just want to remind about the other zigzag indicator: Universal ZigZag Semaphore

Hi,

Please upload the fixed version (v1.6) from the first post of the thread.

Regards,
Igor

You can probably use the median of a Donchian channel

Bye

Zilliq

Originally Posted by secretcode

Dear Igor

Is it possible to add Center line in Inside Channel ?
Center line = Inside Channel High + Low/2 (shown in picture)

Thanks