ZigZag is an indicator that can change its previous values as time goes forward.
For example, if you code zig(Close, 4) and the market makes a 4.5% move off the previous low as of yesterday zig would indicate a peak yesterday, but after 5 more days of market action it makes ultimately a 6% move, the zig will move its peak forward. So don't use zig to try and pick market turns. This can be a further problem if you are backtesting with it, since the backtester has data from the future available to it, so it can look into the future - something that can't be done in the real world. The main use I've found for ZigZag is to calculate the maximum theoretical gain possible over a time period. This gain is then compared to the gain achieved by the trading system you are developing so you can see the percent of profits captured. _________ I printed out the manual at my local Kinko's and read it. Also you can go to the library of pre-coded indicators and read them - then start making modifications to see how the various afl keywords work. ReefBreak --- In [email protected], "lukebar...@..." <lukebar...@...> wrote: > > Hi > I am new to amibroker and AFL code. i require a scan where zig zag high and > lows are found, would this work or would it keep returning the same finds day > after day as they make higher highs or lower lows, is it possible to scan for > say a zig zag retracement where the price has made a higher high, therefore > completing the zig zag. > > Also what is the best way to learn the AFL language? did you all learn > through the aFL help guide > cheers >
