Zig Zag Indicator

[space_trader]

hi,

I would like to better understand how this indicator works. In particular, I would like to set up a strategy in Strategy Builder that will take actions right at the tops and lows. How can I indicate this in my strategy?

thanks

[NinjaTrader_PaulH]

Hello space_trader,

Thanks for your post.

From the help guide on ZigZag indicator: Description The ZigZag indicator highlights trends based on user defined threshold values and helps filtering the noise in price charts, it's not a classical indicator but more a reactive filter showing extreme price points. In processing it's calculations it can update it's current direction and price extreme point based on newly incoming data, the current developing leg should be thought of temporary until a new leg in opposite direction has been set.
Reference: https://ninjatrader.com/support/help...t8/?zigzag.htm

In the Strategy Builder, you can only access the current High and Low zig zag points.

To help you understand how the indicator works in the strategy builder I would suggest creating a test strategy with two sets, one for the High and one for the low. For example, in the High set, the condition would be if the ZigZagHigh is greater than 0 and the action would be to draw on the chart a marker at that zigzag high value. Note that to see all the markers each marker will need a unique tag name. You can do the same for the low set. When you apply the strategy to a chart you should see a marker on every bar at the known zigzag high and zigzag low. From this test, you should then be able to determine the strategy direction to take.

Here is some reference information you may find helpful:

Free live webinar every other Thursday at 4:00 PM EST, through this link to all webinars: https://ninjatrader.com/PlatformTraining
Previous recording of the Strategy Builder 301 webinar: https://youtu.be/HCyt90GAs9k?list=PL...auWXkWe0Nf&t=2
Help guide for the strategy builder: https://ninjatrader.com/support/help...gy_builder.htm

How to add markers in the Strategy Builder: https://paul-ninjatrader.tinytake.co...MF8xMTMwNTc0MA