Hi, I am trying to determine how "Delta since last pivot" is calculated on the Zig Zag Oscillator. The values do not match the delta if I tally up the bar statistics field for each pivot.
The definition is below:
Hi, I am trying to determine how "Delta since last pivot" is calculated on the Zig Zag Oscillator. The values do not match the delta if I tally up the bar statistics field for each pivot.
The definition is below:
Any thoughts on this?
The Zig Zag Oscillator indicator actually divides up the delta in the pivot bars between the delta made on the way to the extreme price of that bar, and the delta made since the extreme price of that bar. Then it allocates the respective deltas to the proper wave. So on the down pivot bars, the delta of that bar will be divided up..some goes to the previous down move, and some goes to the following up move.
Awesome. Makes sense now. Assuming volume and trades are handled the same way for that indicator preference? Is there anywhere I can go to find out these sort of questions or is this the best place? Thanks
Yes, volume is also split up between leg pivots in the same way. This is a good place to post questions like this.