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Date/Time: Mon, 06 May 2024 11:28:27 +0000

Post From: Zig Zag HH,LH,LL,HL formula?

[2018-12-15 17:10:03] Link To Thread - Link To Post [Go To First Post]
Sawtooth - Posts: 3993
What you want to do is much too complex for a Simple Alert formula. It could be done with a spreadsheet study, but it's not as easy as you might think. It is a huge advantage to use the ZZ study because it marks where to look for a divergence, but there are other considerations. Coding it on a spreadsheet would require creating persistent variables of the ZZ value and H/L prices at the Text Label locations. -Then you'd need to use formulas like these to find the previous occurrences: Spreadsheet Example Formulas and Usage: Return Last Two Zig Zag Reversal Values -Then you'd need to subtract the two prices and the two ZZ values to see if there was a difference in direction. -And even this wouldn't find the divergence in your example because both are downsloped. -Now you'd need to establish parameters for differences when the slopes are in the same direction, and for how much difference should be considered if the slopes are in the opposite direction. -And this would still miss some divergences you see with your eye, or find some that you didn't want to consider. There are divergence detector studies out there, but they will have the same limitations: Divergence Detector Study with lines Detecting divergence is difficult to do with an algo. It's more of an art than a science.