Zig Zag Indicator (ZIG)

Above is a 2-minute Chart of @ES# . The Zig Zag indicator overlays the bars, drawn as successive red and blue trendlines.

The Investor/RT RTL language has access to the Zig Zag indicator using the token "ZIG". In the language, ZIG represents the % change level that the current Zig Zag leg has achieved. By qualifying the ZIG token, the user can access the % change level that was achieved by previous legs of the Zig Zag indicator. For instance, ZIG.1 would represent the % change level reached by the next to last leg, while ZIG.2 would represent the % change level reached by the leg prior to that. ZIG.1 and ZIG.2 could never have a smaller magnitude than the "minimum price change (%)" specified in the preferences, since these legs have already been validated to the percent change level. ZIG, however, may not yet have reached its required threshold. The following scan would test the current leg for validation on a 10 % change Zig Zag: ZIG >= 10 OR ZIG 10 AND ZIG 10 AND ZIG.1 0.5) The first part of this scan, "ZIG > 10 AND ZIG 10 AND ZIG.1 0.5, finds instruments whose current leg is actually a very small negative value, but whose recently validated leg is between 10 and 10.5%.

The Zig Zag Minimum Percent Change value can be adjusted directly from the keyboard without having to open up the preferences window. Just select the indicator and then hit the up or down keys on your keyboard to adjust the value by 1. To adjust the value by a smaller increment of 0.1, hold down the shift key while pressing the up or down arrows on the keyboard.