This script uses the Average Direction Index, On Balance Volume, and Exponential Moving Average, Moving Average Cross, MACD, Donchian Channels and two Parabolic SARs for stop loss, a normal one and a line one.
I tried to make the script as straightforward as possible, Buy when there is a buy signal and sell when there is a sell signal. I like using it on the...
Here is an attempt calculate Average Zigzag Range (AZR). This can be used similar to ATR. Using AZR instead of ATR for trailing stop calculation may yield better outcome in trend trading.
Logic is simple.
Calculate zigzag based on ZigzagLength
Calculate distance between each zigzag pivots
Calculate simple moving average of last MALength pivots
This indicator constructs dynamic high/low price range levels, based on 3 point fractals. Trend lines are drawn (zigzag style) at fractal points when trend direction is clearly established.
This is a lagging indicator: fractals lag by one bar and trend lines can lag by many bars. However, its strength lays in objectively defining historic price action: e.g....
Multiple Statistics from zigzag:
• Price range between swings.
• Bar range between swings.
returns maximum value, avg value and mean deviation.
if you find something missing, please leave a message bellow.
This is another among zillions of attempts at a moving average of a security. More precisely, two attempts at one go). The zzoid function generates a zigzag-like MA that can adopt different forms. The stepline function creates, sure enough, a stepline.