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ZIgzag is a beautiful indicator, underused imo. Of course lookahead bias must always be considered, but that can be negotiated easily enough.I have one coded for TV which highlights zigs that are particularly sharp in angle. Whoever is in charge of the price (bulls or bears) will tend to move the price more sharply (higher angle) in their favoured direction. Yellow is a sharp bullish angle, red the opposite. Similar to the "speed of tape" style of indicator.If you think about it from the insto pov, it makes sense. When liquidity appears, you want to grab it quickly then return the price to roughly where it was so that no one notices. These can be seen as sharp angled moves.[ATTACH=full]148861[/ATTACH]
ZIgzag is a beautiful indicator, underused imo. Of course lookahead bias must always be considered, but that can be negotiated easily enough.
I have one coded for TV which highlights zigs that are particularly sharp in angle. Whoever is in charge of the price (bulls or bears) will tend to move the price more sharply (higher angle) in their favoured direction. Yellow is a sharp bullish angle, red the opposite. Similar to the "speed of tape" style of indicator.
If you think about it from the insto pov, it makes sense. When liquidity appears, you want to grab it quickly then return the price to roughly where it was so that no one notices. These can be seen as sharp angled moves.
[ATTACH=full]148861[/ATTACH]
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