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[USER=9682]@Gringotts Bank[/USER] there is no ZigZag indicator that does not repaint due to the dynamic nature of this function. If you use this indicator whilst backtesting the results will be highly misleading & trading will be heartbreaking.

Validating Trends by Spyros Raftopoulos

Spyros Raftopoulos wrote a great article for the "Stocks & Commodity" magazine some years back where he described the problem of the dynamic last leg. In the "S&C" article he presented his version of the ZigZag indicator as a  "ZigZag Validity Indicator", which he believes can be used to validate the last leg.

This "Stocks & Commodity" article introduces the "zigzag trend indicator"

Spyros believes his "zigzag trend indicator" handles the dynamic nature of the zigzag indicator more efficiently, something that I have not been able to replicate. Spyros believes his "zigzag trend approach" solves the validity problem of the dynamic last leg by incorporating zigzag into a clearly tradable indicator. This may be so, but I can't agree with him "at this stage" because in all of my research I can't validate this & "it's not for the want of trying".

The Zigzag Trend Indicator is a powerful noise filter

I can somewhat agree with this but it's not without its problems. Simply his technique incorporates the power of zigzag into a more valid indicator but IMHO it's still not tradable. The popularity & usefulness of the zigzag indicator never seems to die. I'm with [USER=9665]@DaveDaGr8[/USER] on this one where he grabs a cup of coffee, I grab the popcorn because we both know it's going to be messy.

Skate.