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Date/Time: Wed, 08 May 2024 13:01:45 +0000

Post From: Zig Zag Cumulative Volume On Top Of Pivots

[2018-12-06 21:41:39] Link To Thread - Link To Post [Go To First Post]
Alberto Gauer - Posts: 121
Refer to this Input setting for the Zig Zag study here: Zig Zag: Display Zig Zag Volume Hi John. Would like to know if the calculation method for each leg is simple summing and subtracting? (talking about the cumulative volume option to be displayed) I was reading a book by Tim Ord called "The Secret Science of Price And Volume", and he says that the correct way to calculate the volume on a leg of a swing is using the average value of the volume of all the bars that make up the leg, not the sum. This way you can see the true force of the move when you compare to another leg. For example, an up swing made up of 4 bars with 2000 volume each will have 8000 total, then a swing low is made on 3 bars, two with 3000 and one with 2000, total 8000. Based on this arithmetic it would appear that the down swing has equal power, but no, it is stronger. Average up move was 2000, the average on the decline was 2,667, so the downleg has 33% more power than the upleg. Is it possible to add this option to the code, to calculate the average value of the zig zag legs too? Date Time Of Last Edit: 2018-12-06 21:45:46