Description
The ZigZagTrendPercent study is used for confirmation of signals suggested by ZigZagPercent study. It produces values equal to +1 until a decline greater than specified percentage from the previous swing point has occurred; values equal to -1 continue until a rise greater than specified percentage from the previous swing point has occurred.
Use positive parts of the ZigZagTrendPercent plot for confirmation of uptrend sections of ZigZagPercent study, and negative parts for confirmation of the downtrend sections. Note that it can be especially useful for the last segment of the ZigZagPercent study.
Input Parameters
| Parameter | Description |
|---|---|
price
|
The price used to calculate swing points. |
reversal amount
|
The threshold percentage of the price. Market moves greater than this value trigger switching of the study plot from +1 to -1 and vice versa. |
Plots
| Plot | Description |
|---|---|
ZZT%
|
The ZigZagTrendPercent plot. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.