ZigZagHighLow - How’s It Calculated?

[whoDAT]

ZigZagHighLow - How’s it calculated?

I get there are components of % and absolute change. And ATR is also in its calculation. And the dreaded lookback causes repainting. But exactly how is this indicator calculated? (Bonus kudos if you can recreate ZZHL in thinkscript.)

 

[whoDAT]

There is an older version of ZZHL described here: https://usethinkscript.com/threads/...he-zigzaghighlow-indicator.14322/#post-118806

TOS's new version adds a moving average to smooth the noisy single periods with a a number of periods (ma_periods) and smoothing method (ma_type).

BTW - The older version can even paint up and down arrows on TOS mobile.

 

[mashume]

Here's a good explanation (not affiliated with them at all):

https://www.investopedia.com/terms/z/zig_zag_indicator.asp

It covers the calculation pretty well, at least one version. There's always the possibility that someone has made some custom thing (or something entirely different altogether) and called it zigzag.

-mashume