XigXag
$0.00
XigXag is a modification of the ZigZag indicator is a VTL . XigXag Indicator tracks and connects peaks and troughs of the chart. ExtDepth is the minimal amount of bars where there will not be the second maximum (minimum) ExtDeviation pips higher or lower than the previous one. I.e., ZigZag can always diverge, but it can converge (or completely draw together) more than at the ExtDeviation value only after ExtDepth bars. ExtBackstep is the minimal amount of bars between maximums/minimums. The XigXag indicator can be used for Elliot wave studies to identify waves. Another usage is in pattern detection. Check the AB = CD pattern identified in the image. The retracement levels are measured with the Fibonacci tool.
(Downloads - 2024)
XigXag is a modification of the ZigZag indicator is a VTL . XigXag Indicator tracks and connects peaks and troughs of the chart. ExtDepth is the minimal amount of bars where there will not be the second maximum (minimum) ExtDeviation pips higher or lower than the previous one. I.e., ZigZag can always diverge, but it can converge (or completely draw together) more than at the ExtDeviation value only after ExtDepth bars. ExtBackstep is the minimal amount of bars between maximums/minimums. The XigXag indicator can be used for Elliot wave studies to identify waves. Another usage is in pattern detection. Check the AB = CD pattern identified in the image. The retracement levels are measured with the Fibonacci tool.
Usage
- Download the attachment.
- Copy it to your company VertexFX Local VTL Files folder i.e. C:Program FilesCompany Namevtl10Local VTL Scripts
- Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.
Additional information
| Plugin-Type | Client VTL – Custom Indicator |
|---|---|
| Compatibility |