I tried all day to get the zigzag indicator
https://usethinkscript.com/threads/zigzag-high-low-stats-for-thinkorswim.1073/page-8#post-159283
to add a label for average harmonic rotation size. maybe someone else knows how, because i failed...
I'm not sure if I'm using the right terminology here, but FT71 (Morad, Convergent Trading) often talks about rotations, and he puts out a stat.
It's basically the average distance in $ stock price between each swing high/low (not including unconfirmed zigzags) for either the whole chart or input lookback length. by having this avg rotation size, we get a rough prediction of how far the current zigzag could go, give or take. or
it helps give a target. (similar idea to fib levels.) i was hoping to add a % as well in the label so it shows what percentage of the current swing is estimated to have occurred already (based on the avg rotation size)
i.e. $4.58 [34%]
https://usethinkscript.com/threads/zigzag-high-low-stats-for-thinkorswim.1073/page-8#post-159283
to add a label for average harmonic rotation size. maybe someone else knows how, because i failed...
I'm not sure if I'm using the right terminology here, but FT71 (Morad, Convergent Trading) often talks about rotations, and he puts out a stat.
It's basically the average distance in $ stock price between each swing high/low (not including unconfirmed zigzags) for either the whole chart or input lookback length. by having this avg rotation size, we get a rough prediction of how far the current zigzag could go, give or take. or
it helps give a target. (similar idea to fib levels.) i was hoping to add a % as well in the label so it shows what percentage of the current swing is estimated to have occurred already (based on the avg rotation size)
i.e. $4.58 [34%]
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