Home >> Support Board

Support Board

Date/Time: Sat, 04 May 2024 03:26:57 +0000

How to Post a Message for Support

[User Discussion] - zig zag oscillator

View Count: 2448

[2018-05-09 02:41:27] #1 [Go To First Post]
User19165 - Posts: 346
On my small timeframe chart, I am noting that sometimes the zig zag oscillator is out by a tick. Could this be related to the close not being at the swing extreme? If so, I had thought this indicator was supposed to be tracking highs and lows, at least that is the impression I got from reading the calculation mode descriptions and this is always how I have used a zig zag in the past...


Private File

[2018-05-09 04:55:53] #3 [Go To First Post]
User19165 - Posts: 346
OK, well it seems that your zig zag oscillator uses the close price instead of lasthigh and lastlow. Why you would do that, is beyond me but since you have, how can I get the real zig zag value and plot it as a histogram like in my screenshot? Date Time Of Last Edit: 2018-05-09 05:07:58

[2018-05-09 13:28:41] #4 [Go To First Post]
Sawtooth - Posts: 3993
The Zigzag study has all of the settings necessary to do what you want: Zig Zag

[2018-05-10 05:56:58] #5 [Go To First Post]
User19165 - Posts: 346
Hi tomgilb, Could you give me any pointers? I had read through that document already and thought the zig zag osc would do what I want but my recent discovery shows that it does not do what I want... I want an exact match of the drawn zig zag swings, but on a histogram oscillator. Why would I want this? For easy visual comparison of other market data compared to its swing size. Plus reduced visual clutter on price.

[2018-05-10 14:02:00] #6 [Go To First Post]
Sawtooth - Posts: 3993
You can display the zigzag in a Chart Region other than Region 1, and then set the Draw Style to bar.

[2018-05-11 02:33:26] #7 [Go To First Post]
User19165 - Posts: 346
G'day tomgilb, Thanks a lot for trying to help. Your suggestion doesn't work as I am describing. The zigzag osc would present the data as I want it presented - that is to only show the swing size but to use the lasthigh and lastlow in that calculation. The current zig zag osc is using the last swing (high or low) and then using the close price of the bar that made the new last swing - not the appropriate high or low. I've attached a screen shot so you can see the difference in the presentation between the zigzag osc and the zigzag with a draw style of bar.


MK-2018-05-11_143248.png / V - Attached On 2018-05-11 02:33:19 UTC - Size: 46.15 KB - 596 views

[2018-05-11 13:06:51] #8 [Go To First Post]
Sawtooth - Posts: 3993
OK, the Zigzag study cannot do what you want. But it could be calculated and displayed using the Spreadsheet Study study.

To post a message in this thread, you need to log in with your Sierra Chart account: