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Universal ZigZag Channel

This is a discussion on Universal ZigZag Channel within the Trading tools forums, part of the Trading Forum category; Hi, As you know that there are a lot of kinds of ZigZags and ZigZag's strategies. But not all of ...

          
   
  1. #1
    Developer igorad's Avatar
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    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)


    Universal ZigZag Channel-unizzchan_1.jpg

    Regards,
    Igor
    Attached Files Attached Files

  2. #2
    Administrator newdigital's Avatar
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    Yes, it is interesting kind of zigzag.
    Thanks Igorad

    Universal ZigZag Channel-zigzag_channel.gif

  3. #3
    Administrator newdigital's Avatar
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    This is the other screenshot for this indiocator:

    Universal ZigZag Channel-ultra_zigzag.gif


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

  4. #4
    Administrator newdigital's Avatar
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    This is percent zigzag:

    Universal ZigZag Channel-ultra_zigzag_percent.gif

  5. #5
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    Dear Igor

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

    Thanks
    Attached Thumbnails Attached Thumbnails Universal ZigZag Channel-center-line.png  

  6. #6
    Developer igorad's Avatar
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    Quote Originally Posted by secretcode View Post
    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

  7. #7
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    Quote Originally Posted by igorad View Post
    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

  8. #8
    Administrator newdigital's Avatar
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    I just want to remind about the other zigzag indicator: Universal ZigZag Semaphore

  9. #9
    Developer igorad's Avatar
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    Hi,

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

    Regards,
    Igor

  10. #10
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    You can probably use the median of a Donchian channel

    Bye

    Zilliq

    Quote Originally Posted by secretcode View Post
    Dear Igor

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

    Thanks

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