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ZigZag Dual Buffer

ZigZag Dual Buffer

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This ZigZag indicator uses dual buffers to store high and low points. A point is considered as a new high/low point if its high/low is higher/lower than the high/low of N earlier bars' high/low, where parameter N is the number of earlier bars represented by Bars. Default value is 2.

This indicator uses the idea of fractal whereby a point is considered high (or low) if the point is higher than its previous 2 bars' high (or lower than its previous 2 bars low) in forward motion. Hence, it doesn't wait for the next 2 bars to determine if it is higher or lower.

zigzag.png
Author
Salvador
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