ZigZag Scan

[babayaga_310]

Hello,
Hoping someone here could help me develop a scanner based off an existing indicator native to ToS, ZigZagHighLow.

I would like to develop a stock scanner to identify when the support to the high is lost or when the resistance to the low is gained.

• If the market is trending down you would have a swing low in price (point A), usually followed by a lower high and a small trend up (point B, or resistance to the low), then what is made is another swing low which creates a lower low (point C). When the market begins a reversal, I would want the scanner to detect when the price manages to close back above point B (resistance to the low).
• Same goes for the opposite: if the market is trending up you would have a swing high in price (point A), usually followed by a higher low and a small trend (point B, or support to the high), then what is made is another swing high which creates a higher high (point C). when the market begins a reversal, I would want the scanner to detect when the price manages to close back below point B (support to the high).

The settings I'm using right now for the ZigZagHighLow indicator are as follows:

• price h = HIGH
• price l = LOW
• percentage reversal = 0.0
• absolute reversal = 0.0
• atr length = 1
• atr reversal = 1.0
• tick reversal = 0

 

[useThinkScript]

Hello,
Hoping someone here could help me develop a scanner based off an existing indicator native to ToS, ZigZagHighLow.

Sadly no.
Repainters are not used in scans, watchlists, strategies, or conditional orders because they repaint.
Scanners work in real time
Those perfect highs and lows may have been painted on many many bars back.
The ones painted on the current candle will be erased and repainted multiple times before it decides on a final repaint.
read more:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833

 

[whoDAT]

Hello,
Hoping someone here could help me develop a scanner based off an existing indicator native to ToS, ZigZagHighLow.

I would like to develop a stock scanner to identify when the support to the high is lost or when the resistance to the low is gained.

• If the market is trending down you would have a swing low in price (point A), usually followed by a lower high and a small trend up (point B, or resistance to the low), then what is made is another swing low which creates a lower low (point C). When the market begins a reversal, I would want the scanner to detect when the price manages to close back above point B (resistance to the low).
• Same goes for the opposite: if the market is trending up you would have a swing high in price (point A), usually followed by a higher low and a small trend (point B, or support to the high), then what is made is another swing high which creates a higher high (point C). when the market begins a reversal, I would want the scanner to detect when the price manages to close back below point B (support to the high).

The settings I'm using right now for the ZigZagHighLow indicator are as follows:

• price h = HIGH
• price l = LOW
• percentage reversal = 0.0
• absolute reversal = 0.0
• atr length = 1
• atr reversal = 1.0
• tick reversal = 0

Babayaga.

I'm working on a non-repainting zig-zag that follows ZZHL pretty well. I am willing to test this indicator on your project. I'll release everything here as public info.

Are you sure on those ZZHL settings? Settings like that will produce a signal nearly every other tick. What timeframe are you using? Which stocks are you following?