evanevans
Member
I'm wondering if someone would be interested in creating/coding a ZigZag/Fib Retracement % indicator?
The premise is this:
A market, stock, for a particular period is "choppy" (ranging/non-trending) if rally retracements exceed a % such as 61.8% (or 50%). The same is considered trending if retracements are short of the same or another % (ie: 49%).
If we can plot those %'s we should be able to get a clear image of trending vs non-trending moments.
It's a starting place at least. I'm sure we get more fancy with it, or if you have any ideas let's try them.
Looking forward to seeing how this comes out!
@Welkin interested?
The premise is this:
A market, stock, for a particular period is "choppy" (ranging/non-trending) if rally retracements exceed a % such as 61.8% (or 50%). The same is considered trending if retracements are short of the same or another % (ie: 49%).
If we can plot those %'s we should be able to get a clear image of trending vs non-trending moments.
It's a starting place at least. I'm sure we get more fancy with it, or if you have any ideas let's try them.
Looking forward to seeing how this comes out!
@Welkin interested?