ZigZag
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     coyotte
Member
Username: coyotte
Post Number: 240
Registered: 12-2002
Rating: N/A
Votes: 0
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| | Thursday, October 11, 2007 - 07:17 am: |  
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Anyone tried out this Indicator in AFL library ?
been playing around with it and certainly looks promising .
Cheers.
The "Sea of Uncertainty" is defeated by the nimble vessel "Probability", not the unwieldy vessel "Prediction".
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perler59
Member
Username: perler59
Post Number: 999
Registered: 09-2003
Rating: N/A
Votes: 0
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| | Thursday, October 11, 2007 - 11:21 am: |
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Coyotte, its very misleading because it looks into the future. I'm sure I'd be very profitable if I could do that!
BTW we shouldn't be talking about "Other" programs 
http://sttc.net.au/~stever
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davedagr8
Member
Username: davedagr8
Post Number: 193
Registered: 09-2004Rating: N/A
Votes: 0
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| | Friday, October 19, 2007 - 10:39 am: |
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Coyotte,
ZigZag is not something you can use in a system for predicting future prices. It can change it's past turning points based on today's price action.
ie, if you looked at it on wednesday and the line was going up from Monday, then thursday you looked at it again but thursday was a down day, then it can change the line all the way from Monday to be going down.
If you try and trade using this you'll be pulling your hair out pretty quickly
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cjb
Member
Username: cjb
Post Number: 109
Registered: 02-2003Rating: N/A
Votes: 0
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| | Friday, October 19, 2007 - 11:23 pm: |
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There are a couple of different ways you can implement a zigzag line. Some have threshold levels which will tell you when a turning point is valid. They are ok as a guide but as yet I have not seen one that works to any great level of success as the basis for a trading system.
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